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Safaricom war with Bitcoin dealer sparks CBK warning

A bitcoin booth in Las Vegas, USA. Unlike traditional currencies, bitcoin is not created, regulated or backed by any central bank. PHOTO | FILE

A legal battle pitting telecoms operator Safaricom and a company owned by President Uhuru Kenyatta’s Cabinet nominee for the ICT docket, Joe Mucheru is behind the Central Bank of Kenya’s (CBK) latest warning against dealing in digital currencies such as bitcoin, the Business Daily has learned.

The CBK advisory, which was published in the local newspapers Tuesday, effectively throws a spanner into the works for BitPesa Limited — a Nairobi-based bitcoin trading platform that is linked to Safaricom’s mobile money service, M-Pesa.

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