Binance Announces Suspension of Crypto Trading Services Birr
The world’s largest cryptocurrency exchange, Binance, has officially announced that it will suspend Peer-to-Peer (P2P) trading services involving the Ethiopian Birr effective May 15, 2026. The platform disclosed that this decision follows mounting pressure from the country’s financial regulatory bodies, marking a significant shift in Ethiopia’s digital currency landscape. This suspension comes just two months […]
Black News 
The world’s largest cryptocurrency exchange, Binance, has officially announced that it will suspend Peer-to-Peer (P2P) trading services involving the Ethiopian Birr effective May 15, 2026.
The platform disclosed that this decision follows mounting pressure from the country’s financial regulatory bodies, marking a significant shift in Ethiopia’s digital currency landscape.
This suspension comes just two months after the National Bank of Ethiopia (NBE) issued a public warning declaring all cryptocurrency trades paired with the national currency “illegal.”
According to the NBE’s directive, any Birr-denominated P2P trading arrangement is strictly prohibited unless explicitly authorized by the central bank, a move aimed at safeguarding the country’s financial integrity.
The central bank justified the crackdown by citing the extreme volatility of digital assets and the risks they pose, including foreign exchange price manipulation, various financial scams, and the lack of robust regulatory safeguards like Anti-Money Laundering (AML) protections.
Furthermore, the National Intelligence and Security Service (NISS) recently released a report alleging that digital payment platforms and crypto exchanges were being exploited as conduits for contraband trade, gold smuggling, and other illicit financial activities.
In a message to its users, Binance provided reassurance that despite the suspension of ETB trading, all user funds remain safe and accounts stay accessible for other services.
The company emphasized that it is working closely with Ethiopian authorities to align with the country’s financial goals and expressed hope to resume trading services once a regulatory consensus is reached.
Consequently, users are advised to finalize any pending ETB-related transactions on the platform before the May 15, 2026 deadline.
After this date, all advertisements and trading pairs involving the Ethiopian Birr will be completely removed from the exchange. This move is expected to push local crypto enthusiasts toward alternative legal financial channels as the government tightens its grip on the sector.
