The parliament of the Economic Community of West African States (ECOWAS) has joined the list of African organizations that have cautioned against the use of cryptocurrencies. In its warning to West Africa crypto users, the legislative body insists these digital assets are too volatile and as such “their use on the African continent is not without dangers.”

Refusing to Accept Crypto Not a Violation of Legal Provisions

According to a report, this parliamentary warning came after the joint committee meeting that was held in Ouagadougou, Burkina Faso. The meeting, according to the report, had been convened to explore “the prospects of cryptocurrencies as a facilitator for investment.”

However, following the meeting that was also attended by “cryptocurrency experts and resource persons,” the joint committee reminded crypto users in the sub-region of the digital currency’s many shortcomings. According to the report, one of the…

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Source: https://news.bitcoin.com/parliament-of-west-africa-economic-block-cautions-against-use-of-cryptocurrencies/