Tanzanian President Tells Central Bank To Prepare For Cryptocurrencies

Tanzanian President Tells Central Bank To Prepare For Cryptocurrencies

Tanzanian President Tells Central Bank To Prepare For Digital Currencies

Samia Suluhu Hassan, Tanzania’s President has asked the Central Bank to prepare for Cryptocurrencies. “I know that throughout the nation, including Tanzania, they have not accepted or started using these routes. However, my call to the Central Bank is that you should start working on the development. The Central Bank should be ready for the changes and not be caught unprepared,” she said.

The President of Tanzania in her speech is vividly encouraging the Central Bank to learn more about cryptocurrencies as they work on embracing them. Unlike other African governments that have greatly criticized cryptocurrencies, Tanzania seems to be taking a different approach under the new administration.

Amazingly, President Suluhu wants the country to prepare for the dawning age of crypto and blockchain. Nonetheless, in 2018, the Bank of Tanzania warned citizens against trading cryptocurrencies. They cited volatility as a risk to their investment. But today, there is a call for change and we are waiting to see where it will take the country to.

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