Kenya – s Central Handelsbank puts out Omzichtig Against Using Bitcoin

The Christmas season is a time for providing, spending time with loved ones, and reflecting on all that one should be appreciative for. Te Kenya, however, this holiday season is a time to spread fear and protect your thiefdom, according to the Kenyan central canap. Bitcoin has bot attacked by the Central Canap of Kenya ter an official release.

Simply marked December 2015, coming out of Nairobi, the central handelsbank says they were tipped off about Bitcoin and its ownership ter Kenya by “media reports.” Ter many countries, a notice by the central canap is spil powerful spil a release by the government itself, and they are one and the same ter many nation-states. The central bankgebouw even alludes to this, putting itself on the same plane spil the nation’s government. The common refrains–leaving out of many facts and misleading with inaccuracies–were a part of the release, titled “PUBLIC NOTICE – Caution to the Public on Virtual Currencies such spil Bitcoin”:

“Transactions ter virtual currencies such spil bitcoin are largely untraceable and anonymous making them susceptible to manhandle by criminals te money laundering and financing of terrorism.”

Anyone who has any understanding of Bitcoin knows it is neither anonymous and untraceable strafgevangenis connected to terrorism te any known manner. Thesis fallacies are clearly done to scare the populace away, but some legitimate warnings were included, such spil unregulated exchanges worldwide and no recourse if funds are lost te its trading.

Of course, this would not be an punt worth addressing by the nation’s central bankgebouw if Bitcoin wasgoed not making significant inroads towards usurping incumbents like Western Union ter remittances. Western Union has to kick back a portion of their profits to the nation’s government, if not the central bankgebouw, which accounts for the higher fees paid for such accepted transmissions versus those of Bitcoin.

According to the World Bank’s report for the third quarter of 2015 on the rates of international remittances, a common money transfer to Kenya wasgoed rated to cost anywhere from $14.04 USD to $Nineteen.54 USD for $200 USD sent. This translates to anywhere from 7.02% to 9.77% vanaf transaction. When you tegenstelling this to the fractions of a procent when using Bitcoin directly, the regulated establishment has reason to worry. Local Kenyan Bitcoin services like BitPesa have made inroads ter proliferating the use of Bitcoin and seen massive gains, year-to-year.

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