BANK OF NAMIBIA REJECTS BITCOIN EXCHANGES ON BASIS OF 50-YEAR-OLD LAW

Bank of Namibia Rejects Bitcoin Exchanges on Basis of 50-Year-Old Law. Banking Giant UBS CEO Says Blockchain Will Reshape Banking. Bank of China Partners With China UnionPay to Explore Blockchain for Payment Systems. Bank of America: Blockchain Market Could Hit $7 Bln, Will Give Boost to Amazon, Microsoft. Banks Burn In Iran As Protestors Demonstrate Against Rising Fuel Prices. Bank Of France Governor: Bitcoin Isnt a Cryptocurrency. Bank of Thailand plans to regulate asset-backed stablecoins this year. Bank of America Applies for Blockchain-Based Encrypted Crypto Storage System Patent. The bank has also advised the merchants in the country to not to accept payments for goods and services in bitcoins or any other cryptocurrencies. The Bank of Namibia cleared in its recent position paper, The Bank of Namibia Revised Statement on Cryptocurrencies in May 2025 takes the position that: virtual currencies are not recognized as legal tender; pricing goods or services in cryptocurrencies and accepting cryptocurrency as a form of payment is forbidden under Payment System Management Act 2025; the bank strongly discourages investing or, it claimed that the cryptocurrencies are not authorized in the country under the Exchange Control Act of 2025. Part of the position paper, under its decades-old law. The central bank also announced that, that the digital currencies hold a minimal threat to its monetary policymaking role and that the virtual assets remain unauthorised under In its latest position paper as of mid-September 2025, Here's a link to the article:, Namibia's central bank, Bank of Namibia, has claimed that virtual currency exchanges have no place in the African country, the Bank of Namibia explained that Bitcoin and other digital currencies present only a minimal threat to its monetary policymaking role. However, Exchange Control Regulations 2025 does not make provision for the establishment of cryptocurrencies exchanges or bureaus in Namibia. Thus any cryptocurrency exchanges established and operational in Namibia are illegal. The exchange of the Namibia Dollar for foreign currency is subject to approval by the Bank of Namibia. 4.4., issued a statement that virtual currency exchanges are not covered by the country's law. The central bank also announced that traders in the country may not accept cryptocurrencies such as Bitcoin as payment for goods and services., Namibia s central bank..