- NCBA Bank, Kenya, does not encourage its users to indulge in crypto trading.
- The bank sent an email to its clients detailing possible risks in buying crypto with bank cards.
- It openly discourages its clients from buying, holding, and trading on any crypto exchange.
Of late, certain Kenyan banks have sent alerts to their clients. These alerts are notifying users to be vary of using their debit or credit cards when buying crypto on exchanges.
In particular, NCBA Bank, Kenya warns its clients to not buy, trade, or hold in any virtual currencies. This is in light of the Central Bank of Kenya’s circular No.14 of 2015. According to this, the country does not recognize virtual currencies like Bitcoin as legal tender.
Thus, the bank cannot support its clients with any sort of protection if the platforms that the clients are using to hold or trade their assets may fail. Besides this, the email also goes on to highlight other possible vulnerab...
This article was first published on coinquora.com