Global cryptocurrency exchange Binance has announced it will suspend Peer-to-Peer (P2P) trading services involving the Ethiopian Birr, effective May 15, 2026. The move marks a major shift in Ethiopia’s digital finance landscape and follows increasing pressure from the country’s financial regulatory authorities.
The suspension comes two months after the National Bank of Ethiopia (NBE) issued a formal warning declaring all cryptocurrency trades paired with the national currency illegal. Under the NBE directive, Birr-denominated P2P trading is strictly prohibited without explicit central bank authorization. The regulator cited concerns over digital asset volatility, potential foreign exchange price manipulation, and risks related to financial scams and weak Anti-Money Laundering (AML) safeguards.
Government scrutiny of the sector has intensified recently, with the National Intelligence and Security Service (NISS) alleging that crypto exchanges and digital payment platforms were being used to facilitate contraband trade, gold smuggling, and other illicit financial flows.
In a statement to users, Binance confirmed that while ETB-related trading will cease, all customer funds remain secure and accounts will continue to function for other services. The exchange stated it is working to align with Ethiopian financial policies and remains hopeful that it can resume localized services once a regulatory consensus is achieved.
Binance has advised users to finalize any pending ETB transactions before the May 15 deadline. After that date, all advertisements and trading pairs involving the Ethiopian Birr will be removed from the platform. Analysts expect this withdrawal to drive local cryptocurrency users toward alternative financial channels as the government continues to tighten oversight of the digital sector.
