Share this article
Kenyan Banks Warn Customers About Buying Crypto: Report
NCBA Bank Kenya sent a cautionary email to customers who have transacted in crypto in the past.
Updated Sep 14, 2021, 1:07 p.m. Published Jun 8, 2021, 10:24 a.m.
A number of banks in Kenya have issued alerts to customers who used debit or credit cards to buy crypto such as bitcoin on exchanges.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- Some of the banks advised customers not to buy, hold or trade cryptocurrencies, BitcoinKE reported June 4.
- One of them, NCBA Bank Kenya, sent a cautionary email to customers who have transacted in crypto in the past.
- "Virtual currencies such as bitcoin are not legal tender in Kenya," NCBA said in an email cited by BitcoinKE. "No protection therefore exists for you as our customer in the event that the platform holding or trading in cryptocurrency fails or goes out of business."
- The warning copies one from Kenya's central bank in 2015 advising banks and other businesses against dealing in cryptocurrency.
- Nonetheless, trading in crypto remains popular. Digital asset marketplace Paxful announced in December it was partnering with remittance network BitLipa to enable buying and selling of bitcoin, litecoin and tether for Kenyan users.
Read more: Africa ‘Is Leading Global Cryptocurrency Adoption’: Paxful CEO
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Aptos' APT declines on below average volume
The token has support at the $1.69 level and resistance at $1.80.
What to know:
- APT declined 1.7% to $1.70.
- Trading volume dropped 16% below the 30-day average.
- Price action remains range-bound between $1.69 support and $1.80 resistance.
Top Stories
