READ HERE Bank of Namibia Rejects Bitcoin Exchanges on Basis of 50-Year-Old Law Namibia’s central bank, Bank of Namibia, has claimed that virtual currency exchanges have no place in the African country, under its decades-old law. The central bank also announced that merchants in the country may not accept cryptocurrencies, like Bitcoin, as payment for goods and services. In its latest position paper as of mid-September 2017, the Bank of Namibia explained that Bitcoinand other digital currencies present only a “minimal” threat to its monetary policymaking role. However, it claimed that the cryptocurrencies are not authorized in the country under the Exchange Control Act of 1966.
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