Telegram’s built-in crypto platform, Wallet, has announced that it will discontinue peer-to-peer (P2P) cryptocurrency trading services involving the Ethiopian Birr (ETB) starting June 2, 2026, citing regulatory requirements in Ethiopia.
In a notice shared with users, Wallet stated that all active ETB-denominated P2P advertisements will be removed from the platform after the effective date, while users will no longer be able to post new ETB trading advertisements. However, transactions initiated before the deadline will still be allowed to conclude under the platform’s normal operating procedures.
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The move marks another major setback for Ethiopia’s informal crypto trading ecosystem, which has increasingly relied on P2P platforms amid limited access to formal digital asset services.
Wallet joins a growing list of international cryptocurrency platforms that have recently halted Ethiopian Birr P2P trading. Major exchanges including Binance, OKX, Bybit, and Bitget had already suspended similar services in recent months following increased regulatory scrutiny from the National Bank of Ethiopia (NBE).
Interestingly, Wallet had introduced Amharic language support in mid-May 2026, shortly after several global exchanges exited the Ethiopian market. The move was widely interpreted as an effort to attract Ethiopian users displaced by the suspension of ETB trading on larger exchanges. However, the platform’s expansion into the market appears to have been short-lived, lasting less than two weeks before the latest suspension announcement.
The National Bank of Ethiopia has repeatedly warned against unauthorized cryptocurrency activities while emphasizing the need for a secure and regulated digital financial ecosystem. The central bank has also stated that it is consulting with international regulators and domestic stakeholders to develop a comprehensive regulatory framework for digital finance and emerging financial technologies in Ethiopia.
The latest development is expected to further limit access to crypto trading channels for Ethiopian users, many of whom have relied on P2P platforms for cross-border transactions, savings, and digital asset trading amid ongoing foreign exchange constraints.
