Cryptocurrencies are not prohibited, dealers should invest in their own risk - regulation
Cryptocurrencies are not prohibited, dealers should invest in their own risk - regulation
The Tanzanian central bank governor recently revealed that cryptocurrencies in the country are not prohibited, but warned those who deal with crypto -related investments that this is done at their own risk.
central bank open for ideas
The governor of the Bank of Tanzania (Bot), Florens Luoga, recently said that the central bank did not prohibit cryptocurrencies and that those who invest money in crypto -related investments do so at their own risk.
"We cannot forbid something for which we have no competence, or regulate a game that we do not really know how it is played. We have not yet reached a position where we can cost [sic] cryptos, but we look forward to applications from interested parties. Everyone should feel free to present their ideas for examination," Luoga is cited for explanation.
By asking Luoga in the opinion of interested parties, he seems to repeat an earlier promise to heart President Samia Suluhu Hasan's call to the country's financial officers to prepare for crypto. How reported by bitcoin.com The President had made the call, the Tanzanian government took the first step through her ICT Ministry when it announced the creation of a blockchain consulting team. Later the central bank itself promised to follow the call of the president.
The CBDC plan of the central bank
Now, less than six months later, Luoga seemed to redeem this promise when he said the interest representative of the financial sector in the capital that the public can still experiment with cryptocurrencies. This is in contrast to the position of Bot in 2019, which indicates that the trade in cryptocurrencies violates the foreign exchange regulations.
In terms of the plan of the bot, finally introducing a digital currency, Luoga is quoted, which explains that the goal of the central bank is to minimize the possible effects of a CBDC on the core business of the central bank -monetary policy, financial stability and integrity -if not to alleviate. And payment system structure and development. "
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