HomeCryptocurrencyTanzanian president Samia Suluhu Hassan urges central bank to prepare for crypto

Tanzanian president Samia Suluhu Hassan urges central bank to prepare for crypto

-

Tanzanian president Samia Suluhu Hassan urged the country’s central bank to begin exploring crypto assets. Hassan emphasized the increasing impact of digital assets on global finance, stating: “We have witnessed the emergence of a new journey through the internet.”

She highlighted the lack of crypto adoption and development in the East African region, stating: “Throughout the region, including Tanzania, they have not accepted or started using these routes.”

Hassan’s comments come on the heels of numerous Latin lawmakers pushing for greater crypto adoptation in other emerging economies, including El Salvador — where Bitcoin has been mandated as legal tender. 

While African legislators have been slow to recognize and encourage the crypto economy, the region has been a hotspot for peer-to-peer (P2P) Bitcoin trading for years.

According to Useful Tuplips, Sub-Saharan African is the second-largest region for P2P trading behind North America, representing roughly $16.5 million in weekly volume.

Nigeria represents half of the region’s volume, ranking behind the United States as the second-largest nation by P2P Bitcoin trading with $8.5 million in BTC changing hands weekly. Kenya is Africa’s second-ranked peer-to-peer market with more than $3 million in weekly trade, followed by Ghana with $2 million, and South Africa with $1.6 million.

Tanzania ranks seventh for the region with nearly $90,000 worth of trade over the past seven days.

Source: https://cointelegraph.com/news/tanzanian-president-urges-central-bank-to-prepare-for-crypto

LATEST POSTS

Cyprus registers Binance as a cryptocurrency service provider.

Binance, a cryptocurrency exchange, will be able to provide services for virtual currencies in Cyprus as a result of the platform's recent registration with the...

More than 24,000 ATMs in Brazil will offer USDT through Tether and Smartpay.

Usdt, the largest dollar-pegged stablecoin on the market, was created by Tether, a company. Tether recently announced that more than 24,000 ATMs in Brazil will...

To solve the blockchain modularity issue, Celestia raises $55 million.

The project Celestia, which seeks to address the alleged centralization issue in the current monolithic blockchains, has announced the completion of its most recent funding...

Hong Kong considers removing the “Professional Investor-Only Requirement” and allowing retail investors to trade cryptocurrency.

Securities and Futures Commission (SFC) of Hong Kong's director of licensing and head of the fintech division both confirmed that the regulator is taking into...

Follow us

13,033FansLike
3,692FollowersFollow
0SubscribersSubscribe

Most Popular

spot_img