It has been recently revealed that the President of Tanzania Samia Sukuhu Hassan wants the Central Bank of the country to start exploring Bitcoin and other digital assets. With this, it can be assured that Tanzania is appearing to be the latest emerging economy poised to embrace Bitcoin and other crypto assets.
President Samia Sukuhu Hassan Urges Central Bank to Get Ready for Bitcoin
The Tanzanian President Samia Suluhu Hassan has recently urged the Central Bank of the country on June 14, 2021, to start exploring adapting to cryptocurrency assets and Bitcoin.
She laid an emphasis on the growing impact of these crypto-assets on global finance and stated:
“We have witnessed the emergence of a new journey through the internet.”
In addition to this, she highlighted the lack of crypto acceptance and development in the East African region and said:
“Throughout the region, including Tanzania, they have not accepted or started using these routes. My call to the Central Bank is that you should start working on that development. The Central Bank should be ready for the changes and not be caught unprepared.”
South Africa Also Planning to Regulate Digital Assets Trading
As it has been recently revealed, South Africa has laid the foundation for finance watchdogs to set crypto-asset controls, as the country is looking forward to restraint surging cases of fraud and improve the management of cross-border flows.
The Intergovernmental Fintech Working Group of the nation said:
“Crypto-assets will be brought into the South African regulatory purview in a phased and structured manner. It is, however, reiterated that with or without regulation, crypto-assets remain inherently risky and volatile.”
In addition to this, the IFWG stated:
“The dynamic development of the crypto market must continue to be pro-actively monitored, including maintaining knowledge on emerging international best practices through standard-setting bodies.”