Tanzanian President Calls On Central Bank To Develop Cryptocurrency Market

The head of the African country calls on the central bank to study and develop the cryptocurrency market.

Samia Hassan Suluhu, head of the United Republic of Tanzania, assessed the growing impact of cryptocurrency on the global economy and urged the local central bank to explore the new technology. She emphasizes – not only Tanzania, but the entire East African region is still lagging behind in the adoption and development of decentralized solutions.

We have witnessed the emergence of a new gateway on the Internet. These routes have not been adopted or used throughout the region, including Tanzania. I appeal to the Central Bank with a petition to start work on their development. The central bank must be prepared for change and not be caught off guard.

Although African lawmakers have so far been slow to legalize bitcoin, it is huge Continent that is one of the key points of peer-to-peer digital asset trading, second only to North America.

The Tanzanian traders themselves cannot boast of high results – on average, their hands change BTC by $ 90,000 per week. For comparison, the weekly turnover in Kenya exceeds $ 3 million, in Nigeria – $ 8 million.

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