Binance Returns to Ethiopia through Ethio Telecom, but Crypto Restrictions Stay Firm

Binance has restored its platform access for Ethio Telecom users, concluding a multi-week period of limited availability. Despite this restoration, the broader regulatory environment for cryptocurrency in Ethiopia remains stringent and unchanged.

The company informed users this week that its platform was once again accessible through the state-owned telecommunications provider following what it described as successful regulatory engagements with Ethiopian authorities. Neither Binance nor regulators has disclosed the details of those discussions.

The National Bank of Ethiopia previously banned birr-denominated P2P crypto transactions to protect monetary stability and increase oversight. Officials claimed informal markets distorted exchange rates and raised risks regarding illicit financial flows and money laundering. In response, platforms like Binance, OKX, and Bitget halted ETB-linked services, while Ethio Telecom network blocks hindered investors and digital professionals.

While Binance is once again accessible, the legal framework governing cryptocurrencies in Ethiopia remains unchanged.

The Ethiopian birr continues to be the country’s only recognized legal tender, and ETB-denominated peer-to-peer cryptocurrency transactions remain prohibited under existing directives. The restoration of platform access, therefore, does not signal a reversal of the National Bank’s policy or the legalization of cryptocurrency trading using local currency.

Instead, industry observers view the move as a technical restoration of internet access rather than a regulatory shift. Users can once again access Binance’s global services, but domestic restrictions on fiat-based cryptocurrency transactions continue to apply.

The development comes as Ethiopian authorities continue exploring a longer-term regulatory framework for digital assets. Policymakers are understood to be examining international approaches to licensing virtual asset service providers, strengthening anti-money laundering controls, improving tax compliance, and enhancing consumer protection. No official timeline has been announced for introducing comprehensive cryptocurrency regulations.

For Ethiopia’s growing digital economy, the restoration provides partial relief to users who depend on international cryptocurrency platforms for asset management and cross-border financial activities. However, the reopening also underscores the government’s cautious approach to virtual assets as it seeks to balance financial innovation with monetary stability and regulatory oversight.