In a latest ruling, the Central Bank of Kenya has determined it is not interesting in using virtual money in all its financial dealings and cautioned its people against utilizing virtual cash like Bitcoin.
East Africa’s central bank disclosed in an official statement that digital money and any form of Bitcoin are not legal tender because these are not backed or supported by a governing body.
The statement posted on its website reads: “No protection are currently in place in the event digital currency or related platform that exchanges or holds digital money fails or goes out of business.”
http://www.fxpips.com/bitcoin-trending-news-kenya-central-bank-says-no-to-digital-currency/
