Tanzania’s president urges country to be ready to embrace cryptocurrencies

Tanzania, a country in Africa, seems to be getting ready to accept Bitcoin and cryptocurrencies.

On June 14, Tanzanian President Samia Suluhu Hassan urged the country’s central bank to start exploring cryptocurrencies, according to the newspaper. City AM. Hassan mentioned the growing impact of digital assets on the global economy, saying: “We have seen the emergence of a new stage [ý nói tiền điện tử] through the Internet.”

She highlighted the low adoption and underdevelopment of cryptocurrencies in the East Africa region, stating: “Across the region, including Tanzania, they have not adopted or started using these platforms.”

“My appeal to the Central Bank is that you should get on with that development. Central banks should be ready for changes and not fall behind due to lack of preparation.”

Hassan’s comments come after many senior Latin American officials pushed for the adoption of cryptocurrencies in other emerging economies, including El Salvador, where Bitcoin is considered legal tender.

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

According to Useful Tulips, Sub-Saharan Africa is the second-largest region in terms of P2P transactions after North America, accounting for about $16.5 million in weekly volume.

Nigeria accounts for half of the region’s trading volume, trailing the United States as the second largest country in terms of Bitcoin P2P trading with $8.5 million in BTC traded weekly. Kenya is Africa’s second largest P2P market with over $3 million in weekly transactions, followed by Ghana with $2 million and South Africa with $1.6 million.

Tanzania ranks 7th in the region with a transaction value of nearly $90,000 in the past seven days.

Maybe you are interested:

---

Join our channel to update the most useful news and knowledge at:

According to CoinTelegraph
Compiled by ToiYeuBitcoin