Tanzania’s Zanzibar reportedly exploring ways to adopt crypto
More African countries are considering adopting Bitcoin as the local crypto market surged over 1,200% in one year. Zanzibar, a semi-autonomous territory in the United Republic of Tanzania, is reportedly exploring ways to regulate and adopt cryptocurrencies like Bitcoin (BTC).The government of Zanzibar is planning to conduct meetings with stakeholders like banks and ministries to discuss policies related to the cryptocurrency industry. Zanzibar Minister of State Mudrick Soraga announced the plans to Tanzanian news agency The Citizen on Nov. 10.The move is part of a potential plan to adopt....
Related News
The central bank has “already begun preparations” for a digital shilling, according to Bank of Tanzania Governor Florens Luoga. The Bank of Tanzania is reportedly planning to introduce a central bank digital currency, or CBDC, for the African nation after neighboring countries announced similar initiatives.According to a Friday Bloomberg report, Bank of Tanzania Governor Florens Luoga said on Thursday that Tanzania was planning to follow Nigeria’s example in rolling out its own CBDC. Luoga reportedly said that the central bank had “already begun preparations” for a digital shilling,....
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....
Zanzibar is keen on getting stakeholders’ views on the viability of adopting digital currencies before a final decision is made, a government minister has said. The Importance of Getting the Views of Stakeholders In his remarks during an interview with The Citizen, Mudrick Soraga, who is the Minister of State, revealed his government is planning to meet stakeholders in the third week of November. Soraga also explained why such a meeting is necessary. He said: We are seeking views on the matter before deciding whether it is viable or not. You cannot make such a decision without....
The tour will begin in Zanzibar on Oct. 23 before continuing on to Kenya, Rwanda, Uganda, Zambia, Malawi, Mozambique, Zimbabwe, and Tanzania. The African arm of the company behind the Ignis, Nxt and Ardor blockchains will be launching a multi-country tour to provide blockchain education in the public and private sectors.According to information provided to Cointelegraph, Jelurida Africa said it would begin a blockchain expedition starting with Tanzania’s self-governing state of Zanzibar on Oct. 23 before continuing on to Kenya, Rwanda, Uganda, Zambia, Malawi, Mozambique, Zimbabwe, and....
The state official reportedly used his own funds to pay for the trip, which included discussing Bitcoin with government officials and exploring financial literacy programs. Curtis Loftis, the treasurer for the U.S. state of South Carolina, spent five days in El Salvador as part of an “exploratory trip” on cryptocurrencies.According to an Oct. 5 announcement, Loftis was part of a delegation including South Carolina business leaders, rural health officials, and individuals “interested in the expansion of cryptocurrency and blockchain technologies” who met with officials from El Salvador’s....