It is still not clear whether the Central Bank of Tanzania plans to adopt existing cryptocurrencies such as bitcoin, or is exploring possibilities of its own CBDC.
Tanzania, June 25, 2021 /AlexaBlockchain/ – The Central Bank of Tanzania has said it is working on President Samia Suluhu Hassan’s recent directives to prepare for cryptocurrencies, reports Reuters.
- This may result in a possible reversal of a ban on cryptocurrency it put in place in 2019, citing they were not recognized by local law, but it now says it is adapting following the president’s directive.
- President Samia Suluhu Hassan recently called on the Central Bank of Tanzania to begin exploring cryptocurrencies and blockchain.
- She said the Central Bank should be ready for the changes and not be caught unprepared.
- It is still not clear whether the Central Bank of Tanzania plans to adopt existing cryptocurrencies such as bitcoin, or is exploring possibilities of its own CBDC.
Read more: Tanzania President Signals ‘Bitcoin’ As The Future Of Finance
