Published on September 17th, 2017 | by bitcoin0
bank of rejct
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 Bitcoin and 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.
This is because virtual currencies are neither issued nor guaranteed by a central bank nor backed by any commodity.”