Tanzanian president urges central bank to prepare for cryptocurrency

Tanzania seems to be the latest emerging economy ready to accept Bitcoin and crypto assets.

On June 14, Tanzanian President Samia Suruhu Hassan urged The central bank of the country began to explore crypto assets. Hasan emphasized the growing impact of digital assets on global finance, and said: “We have witnessed the emergence of a new journey to the Internet.”

She emphasized the lack of adoption and development of cryptocurrency in East Africa, and pointed out: “In the entire region, including Tanzania, they have not yet accepted or started to use these routes.”

“My appeal to the central bank is that you should start working on this development. The central bank should prepare for these changes, not be caught off guard.”

Hassan’s comments were made after numerous Latin legislators Drive more encryption adoption In other emerging economies, including El Salvador-Bitcoin has always been there legal tender.

Although the awareness and encouragement of the crypto economy by African lawmakers has been slow, the region has been a hot spot for peer-to-peer (P2P) bitcoin transactions for many years.

according to Useful tulip, Sub-Saharan Africa is the second largest P2P transaction region after North America, with a weekly transaction volume of approximately US$16.5 million.

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Nigeria accounts for half of the region’s transaction volume and ranks second in P2P Bitcoin transactions, after the United States, with USD 8.5 million in BTC changing hands every week. Kenya is the second-ranked peer-to-peer market in Africa with a weekly transaction volume of more than US$3 million, followed by Ghana with US$2 million and South Africa with US$1.6 million.

Tanzania ranks seventh in the region, with trade volume close to US$90,000 in the past 7 days.