Popularity Spooks Malawi Central Bank Warning Against Cryptocurrency.

By CCN: The governor Reserve Bank of Malawi (RBM) has warned that cryptocurrencies are not legal tender and should not be used in place of the legal fiat currency, the Malawi Kwacha.

According to local media, Dr. Dalitso Kabambe released a statement in which he revealed that the central bank has observed the public’s interest in cryptocurrencies has increased. He said his institution received a growing number of inquiries about cryptos from the public and other interested parties.

The governor also noted that activities involving cryptocurrency trading are on the rise in the Southern African country.

Cryptocurrency isn’t legal tender, says RBM governor
The governor noted that cryptoassets are being used to carry out the functions of money or investing online. He made it clear that cryptocurrencies are not recognized by the central bank.