Tanzanian president urges central bank to prepare for crypto
Tanzania’s president wants the country’s central bank to begin exploring Bitcoin and digital assets. Tanzania appears to be the latest emerging economy poised to embrace Bitcoin and crypto assets.On June 14, Tanzanian president Samia Suluhu Hassan urged the country’s central bank to begin exploring crypto assets. Hassan emphasized the increasing impact of digital assets on global finance, stating: “We have witnessed the emergence of a new journey through the internet.”She highlighted the lack of crypto adoption and development in the East African region, stating: “Throughout the region,....
Related News
Tanzanian President Samia Suluhu Hassan has urged her country to be ready for emerging fintech by paving the way for cryptocurrencies. She also urged the country’s central bank to begin the necessary preparations for a step-change in global attitudes towards banking. However, in her address of the Tanzanian finance chiefs, Hassan acknowledges that not everyone in the country is embracing crypto. The 61-year-old leader still wants them to plan ahead. She said: I know that throughout the nation, including Tanzania, they have not accepted or started using these routes. However, my call....
President Samia Suluhu Hassan’s positive stance on crypto could see Tanzania’s central bank reversing its previous cryptocurrency prohibition. The Bank of Tanzania is reportedly working to overturn its ban on crypto amid favorable cryptocurrency comments made by the country’s president.According to Reuters, Tanzania’s central bank has begun working on directives from the country’s federal government that could see a reversal of its November 2019 crypto ban.As previously reported by Cointelegraph, president Hassan urged the central bank to begin exploring Bitcoin (BTC) and digital assets....
The Tanzanian central bank governor recently revealed that cryptocurrencies are not outlawed in the country but warned those dabbling in crypto-related investments that they do so at their own risk.
Central Bank Open to Ideas
The governor of the Bank of Tanzania (BOT), Florens Luoga, recently stated that the central bank has not outlawed cryptocurrencies and that those putting money into crypto-related investments are doing so at their own risk.
Also, in his remarks published by The Citizen, Luoga revealed that the BOT — which is now exploring the possibility....
In a hint that Tanzania might soon reverse its 2019 crypto ban, an unnamed spokesperson of the Bank of Tanzania (BOT) recently suggested the apex bank is “working on the directives given.” The remarks by the spokesperson follow Tanzanian President Samia Suluhu Hassan’s call on the country’s finance chiefs to prepare for cryptocurrencies. BOT Move Commended In a speech delivered shortly after El Salvador made bitcoin legal, President Hassan pointed to the inevitability of cryptocurrencies. However, as one report explains, the central bank spokesperson did not reveal....
Digital currencies are primed to reinvent trade between African countries. Ghana's vice president Dr. Mahamudu Bawumia believes that African governments need to embrace digital currencies to facilitate trade throughout the continent.As reported by Ghanaweb Bawumia outlined his argument during the Fifth Ghana International Trade and Finance Conference, which boasted the theme of “Facilitating Trade and Trade-Finance in AfCFTA; The Role of the Financial Services Sector.” He argued that trade between African countries demands a “single central payment” system. Currently, moving goods over....