Kenyan Bank Warns Customers Against Cryptocurrency Trading

According to News.bitcoin, some Kenyan banks, such as Kenya’s NCBA Bank, have started sending warning alerts to customers who engage in cryptocurrency trading to be wary of the risks involved. The warnings have reportedly been sent to customers who “use credit and debit cards to purchase cryptocurrencies on cryptocurrency exchanges. “NCBA said virtual currencies such as Bitcoin are not legal tender in Kenya, according to the Central Bank of Kenya (CBK) Circular No. 14 of 2015. As such, investors are not protected in any way in the event that the platform holding or trading cryptocurrencies fails or collapses.

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