Quote from: ruthbabe on July 07, 2018, 01:05:26 PM

Quote from: Nana1 on October 19, 2017, 02:14:24 PM

Which African countries allow Bitcoin transactions? Is Bitcoin currently used to purchase items in any African country?

Currently, there five African countries that allow transactions on Bitcoin and other cryptocurrencies, they are South Africa, Namibia, Zimbabwe, Nigeria, and Morocco.

South Africa. In December 2014 the Reserve Bank of South Africa issued a position paper on virtual currencies whereby it declared that virtual currency had no legal status or regulatory framework. The South African Revenue Service classified bitcoin as an intangible asset.

Namibia. In September 2017 the Bank of Namibia issued a position paper on virtual currencies entitled wherein it declared cryptocurrency exchanges are not allowed and cryptocurrency cannot be accepted as payment for goods and services.

Zimbabwe. The Reserve Bank Of Zimbabwe is sceptical about bitcoin and has not officially permitted its use. On 5 April 2017 however, BitMari, a Pan-African Blockchain platform got licensed, through its banking partner, AgriBank, to operate in the country.

Nigeria. As of 17 January 2017, The Central Bank of Nigeria (CBN) has passed a circular to inform all Nigerian banks that bank transactions in bitcoin and other virtual currencies have been banned in Nigeria. However, during the year, the CBN (through its Deputy Director on Banking and Payments System, Musa Itopa-Jimoh) clarified the circular and its stance on bitcoin, citing that a lot of people misinterpret the central banks recent warning. It noted that "Central bank cannot control or regulate bitcoin. Central bank cannot control or regulate blockchain. Just the same way no one is going to control or regulate the Internet. We dont own it". https://news.bitcoin.com/central-bank-of-nigeria-says-we-cant-stop-bitcoin/

Later on, a committee was set up by the Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) to look into the possibility of the country adopting the technology driving bitcoin and other digital currencies blockchain. The committee has submitted its report but "several sub-committees are still working on the issue" according to the Director, Banking & Payments System Department at CBN, Mr. Dipo Fatokun. https://www.today.ng/technology/internet/2575/nigeria-adopted-bitcoin-technology-cbn

Morocco. On 19 December 2017, Abdellatif Jouahri, governor of Bank Al-Maghrib, said at a press conference held in Rabat during the last quarterly meeting of the Bank Al-Maghrib's Board of 2017 that bitcoin is not a currency but a "financial asset", He also warned of its dangers and called for a framework to be put in place for consumer protection. http://www.menara.ma/fr/actualit%C3%A9s/economie/2017/12/20/2333841-le-digital-champ-de-bataille-de-bank-al-maghrib-en-2018.html

there are no african countries,except Algeria that explicitly ban bitcoins
so,in theory,most of the African country allows bitcoin transactions,since whatever is not prohibited is allowed
there were many articles about Morocco thinking about banning bitcoins,but it seems that they reconsidered
countries like Zambia,Egypt and Saudi Arabia seem to have some restrictions in place,but they do not ban transactions or exchnage of coins