[2015-12-15] Central Bank of Kenya Warns About Bitcoin In Paid Newspaper Advert

[jdebunt]

Now that Bitcoin is gaining more popularity all over the world; the time has come – once again – for central banks to warn about the potential dangers of digital currency. Just a few days ago, a similar warning was issued by the Minnesota Commerce Commissioner. But this time, it’s the central bank of Kenya issuing a statement on trading or holding Bitcoin and other virtual currencies.

http://bitcoinist.net/central-bank-kenya-warns-bitcoin-paid-newspaper-advert/

[zend7]

"The central bank of Kenya then goes on saying how Bitcoin and other virtual currencies are not legal tender in the country, and how no protection exists in the event of something going wrong. A small list of the risks associated with buying, holding, and trading Bitcoin and other digital currencies are then presented in the paid advert."

This warning should also be extended to the local currency and other fiats.

[a7mos]

I watched a documentary movie about bitcoin in Kenya and Kenyan people are using bitcoin to avoid high fees in Western Union and money gram.
So this warning will not stop them from using it.

[Kprawn]

You have to ask, why are they allowing M-Pesa to be successful..?  and make out Bitcoin as illegal tender? The only difference between M-Pesa and Bitcoin as a payment option is

that Bitcoin is giving the people there more pseudonymity and control. The Central Bank know this and they want to stop this from happening. The nice thing about Bitcoin is that

it cannot be "banned" everywhere at once... you could go over the border and convert it to fiat or just use it to pay for your "Bitcoin" holiday.