Ethiopia reiterates crypto ban even as Bitcoin mining surges on state power sales
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Ethiopia's central bank reiterated that using, trading, transferring, or servicing virtual assets remains prohibited without explicit approval, expanding the scope beyond cryptocurrencies. While no new enforcement measures were announced, the statement reinforces regulatory headwinds for local adoption and onshore liquidity. The policy contrast with Ethiopia's large-scale hydropower sales to Bitcoin miners highlights political and regulatory asymmetry rather than a direct change to global BTC market structure.
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Ethiopia's central bank has again warned that virtual assets remain off-limits for the public, even as the country has become a fast-growing hub for Bitcoin mining powered by its hydroelectric surplus.
In a notice published Thursday, the National Bank of Ethiopia (@NBEthiopia) said the use, trading or transfer of virtual assets is prohibited unless explicitly approved by the regulator. The statement broadens the scope beyond cryptocurrencies to cover all digital representations of value, including activities such as exchange, transfers, custody and related services.
The bank did not announce new regulations or enforcement measures.
The renewed stance highlights a policy contradiction: Ethiopia is reportedly selling about 600MW of hydropower to Bitcoin miners, while citizens are barred from using or accessing the asset their electricity supply helps generate.
