Tanzanian Central Bank Preparing for CBDC to Ensure Country Is Not Left Behind
Florens Luoga, the governor of the Bank of Tanzania, said the apex bank has kickstarted preparations for a central bank digital currency. He said the bank was doing this to ensure Tanzania is not left behind as other countries adopt digital currencies. Keeping Abreast With Developments on the Continent The Bank of Tanzania (BOT) has started preparations for its digital currency to ensure the country is not left behind others in adopting central bank digital currencies (CBDC), a Bloomberg report has said. The announcement follows reports that Zanzibar — an....
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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....
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....
The bank has been exploring the introduction of a CBDC since 2017. The Bank of Israel is accelerating its research for the potential issuance of a central bank digital currency.In a statement from the central bank today, the Bank of Israel said it was preparing an action plan to explore the benefits of a digital shekel on the economy. Though the bank said it had not yet decided whether to issue a central bank digital currency, or CBDC, it added it would be prepared to do so should the benefits “outweigh the costs and potential risks.”The central bank said it may consider issuing a CBDC if....
Binance CEO Changpeng Zhao revealed that the BNB Chain will play a role in Republic of Kazakhstan’s central bank digital currency (CBDC). The central Asian country has been in the race for a CBDC since May 2021. As the country’s central bank announced late last year, a decision on the feasibility of launching a CBDC […]
Brazil’s central bank, the Banco Central do Brasil (BCB), is pushing for more time to roll out its central bank digital currency (CBDC). Earlier in May, BCB released a document covering the general guidelines and characteristics of Brazil’s future CBDC. Roberto Campos Neto, BCB’s chief central banker, also stated earlier last year that the country […]