Burundi

**Report on the Current Status of Retail Cryptocurrency Trading in Burundi**

**Date:** 2025-06-26

**Topic:** Retail_Trading_Status

**Description:** Assess whether individual citizens and residents in the country are legally permitted to buy, sell, and hold cryptocurrencies. Detail the regulatory environment surrounding this activity (e.g., KYC/AML requirements imposed on platforms, general warnings issued).

**1. Identified Current Status:**

Banned

**2. Detailed Narrative Explanation:**

Retail cryptocurrency trading (buying, selling, and holding) is explicitly prohibited in Burundi. This ban was instituted by the Bank of the Republic of Burundi (BRB), the country's central bank, in 2019. The primary reasons cited for the ban were concerns over the lack of investor protection, the high volatility of cryptocurrencies, their use in speculative transactions, and the absence of a legal framework to regulate them or offer recourse in case of losses.

Prior to the ban, the legal status of cryptocurrencies in Burundi was ambiguous, with no specific laws addressing digital currencies. Existing financial regulations did not cover them, leading to a lack of clarity regarding their treatment and taxation. The central bank's intervention in 2019 was a decisive move to halt all activities related to the trading and promotion of digital currencies.

The BRB issued statements clarifying that cryptocurrencies are not legal tender in Burundi as they are not issued or guaranteed by any government or central bank. The bank warned that no entity or financial institution was authorized to offer services related to virtual currencies, including remittance or payment services. Officials indicated that strong measures could be taken against those who did not comply with this decision.

Despite the official ban, some reports suggest that underground cryptocurrency trading may persist, driven by tech-savvy individuals. However, these activities are considered illegal and operate outside any regulatory oversight. The ban has reportedly stifled innovation in the financial technology sector and limited access to global digital markets for Burundians. There are no specific KYC/AML requirements for cryptocurrency platforms, as the activity itself is prohibited. General AML laws exist in Burundi, such as Law No. 1/23 of June 23, 2014, on the prevention and suppression of money laundering and terrorist financing, which is enforced by the BRB and the Burundi Financial Intelligence Unit (FIU). However, these are not specifically tailored to cryptocurrency activities due to the overarching ban.

As of late 2024 and early 2025, there has been no indication of a reversal of this ban or the development of a regulatory framework for cryptocurrencies. The government's stance remains that these assets pose too great a risk to its citizens.

**3. Specific, Relevant Text Excerpts:**

*   **Proelium Law LLP (May 2024):** "Banned. Burundi banned all trading of cryptocurrencies on its soil, saying it couldn't offer digital money users protection in case of problems."
*   **UPay Blog (November 21, 2024):** "The Republic of Burundi banned all cryptocurrencies in 2019, stating that the volatile asset class presents too much risk for citizens."
*   **UPay Blog (November 21, 2024):** "In 2019, the Burundian government banned all forms of trading and transacting in cryptocurrencies. The ban was enacted over concerns about financial fraud, criminal activities, and the volatility of digital assets."
*   **UPay Blog (November 21, 2024), quoting a statement from the Bank of the Republic of Burundi:** "Since virtual currencies or cryptocurrencies are not regulated and are not issued or guaranteed by any Government or Central Bank, these currencies do not have legal tender in the territory of Burundi.”
*   **UPay Blog (November 21, 2024), quoting Alfred Nyobewumusi, a director at the central bank's micro-finance department:** “Strong measures could be taken against all those who will not respect this decision.”
*   **Baker McKenzie - Blockchain - Burundi Bans Cryptocurrency (September 11, 2019):** "The Bank of The Republic of Burundi issued a statement in which it banned the use of cryptocurrencies in the country. The Statement said, “Since virtual currencies or cryptocurrencies are not regulated and are not issued or guaranteed by any Government or Central Bank, these currencies do not have legal tender in the territory of Burundi.”"
*   **The East African (September 2, 2019):** "Burundi's Central Bank (BRB) has today issued a statement that outlaws the use of cryptocurrency in the country...Adding that since crypto currencies are not regulated and are not issued or guaranteed by any Government or Central Bank, “these currencies do not have legal tender in the territory of Burundi.”"
*   **Agence Anadolu (September 2, 2019):** "La Banque de la République du Burundi vient d'interdire toutes les «monnaies virtuelles ou crypto-monnaies » sur le territoire national, a annoncé Jean Ciza, gouverneur de la Banque centrale dans un communiqué publié lundi." (Translation: The Bank of the Republic of Burundi has just banned all "virtual currencies or cryptocurrencies" on the national territory, announced Jean Ciza, governor of the Central Bank in a statement published Monday.)
*   **Burundi Eco (February 21, 2020), referencing a public notice from the BRB dated August 20, 2019:** "Etant donné que les monnaies virtuelles ou cryptomonnaies ne sont pas réglementées et ne sont pas émises ou garanties par aucun gouvernement ou Banque centrale, ces monnaies n'ont pas de cours légal sur le territoire du Burundi, estime la BRB. A cet égard, la BRB a d'ailleurs rappelé au public qu'aucune entité ni institution financière n'était actuellement autorisée à offrir des services de remise de fonds ou autres services de paiement en utilisant une monnaie virtuelle..." (Translation: Given that virtual currencies or cryptocurrencies are not regulated and are not issued or guaranteed by any government or Central Bank, these currencies do not have legal tender in the territory of Burundi, estimates the BRB. In this regard, the BRB has also reminded the public that no entity or financial institution was currently authorized to offer remittance services or other payment services using a virtual currency...)

**4. Direct, Accessible URL Links to Sources:**

*   **Proelium Law LLP:** [https://www.proeliumlaw.com/crypto-regulation-tracker/](https://www.proeliumlaw.com/crypto-regulation-tracker/)
*   **UPay Blog - Crypto Adoption Around the World: Burundi:** [https://upay.co.za/blog/crypto-adoption-around-the-world-burundi/](https://upay.co.za/blog/crypto-adoption-around-the-world-burundi/)
*   **Baker McKenzie - Blockchain - Burundi Bans Cryptocurrency:** [https://www.blockchainandthelaw.com/2019/09/burundi-bans-cryptocurrency/](https://www.blockchainandthelaw.com/2019/09/burundi-bans-cryptocurrency/)
*   **The East African - Burundi outlaws cryptocurrency:** [https://www.theeastafrican.co.ke/tea/business/burundi-outlaws-cryptocurrency-1402834](https://www.theeastafrican.co.ke/tea/business/burundi-outlaws-cryptocurrency-1402834)
*   **Agence Anadolu - Burundi: interdiction de «toutes les monnaies virtuelles»:** [https://www.aa.com.tr/fr/afrique/burundi-interdiction-de-toutes-les-monnaies-virtuelles-/1570883](https://www.aa.com.tr/fr/afrique/burundi-interdiction-de-toutes-les-monnaies-virtuelles-/1570883)
*   **Burundi Eco - La cryptomonnaie : une transaction déconseillée par la BRB:** [https://burundi-eco.com/la-cryptomonnaie-une-transaction-deconseillee-par-la-brb/](https://burundi-eco.com/la-cryptomonnaie-une-transaction-deconseillee-par-la-brb/)
*   **BitKE - The Central Bank of Burundi Puts Out a Cautionary Statement on Cryptocurrencies:** [https://bitcoinke.io/2019/09/burundi-central-bank-cautionary-statement-on-cryptocurrencies/](https://bitcoinke.io/2019/09/burundi-central-bank-cautionary-statement-on-cryptocurrencies/)
*   **PYMNTS.com - East African Country Burundi Prohibits Cryptocurrency Trading:** [https://www.pymnts.com/news/regulation/2019/burundi-cryptocurrency-trading-ban/](https://www.pymnts.com/news/regulation/2019/burundi-cryptocurrency-trading-ban/)
*   **Cryptopolitan on Binance Square - Crypto Industry in Burundi: Access to Global Markets Remains Largely Unexploited:** [https://www.binance.com/en/feed/post/2023-12-15-crypto-industry-in-burundi-access-to-global-markets-remains-largely-unexploited-2010993305114](https://www.binance.com/en/feed/post/2023-12-15-crypto-industry-in-burundi-access-to-global-markets-remains-largely-unexploited-2010993305114)
*   **Smile ID - Instant AML and KYC compliance solution for Burundi:** [https://usesmileid.com/kyc-and-aml-solutions-for-burundi/](https://usesmileid.com/kyc-and-aml-solutions-for-burundi/)