Crypto Industry Will Be Officially Developed in Tanzania

On Monday, June 14, Tanzanian President Samia Suluhu Hassan urged the country’s central bank to start researching Bitcoins and other crypto assets.

The President of Tanzania noted that now the development and impact of digital assets on the global financial market is growing every day.

According to her, throughout East Africa, including Tanzania, the development and implementation of crypto assets in the financial sector of the region is just beginning.

“My call to the Central Bank is that you should start working on that development (implementation of crypto assets). The central bank must be ready for changes.”

Perhaps the President of Tanzania has turned her attention to the crypto economy in connection with the recent jump in interest and the active development of the crypto industry in the other emerging economies in Latin region.

Despite the fact that African lawmakers were previously in no hurry to encourage or at least accept the crypto economy, this region has been chosen by traders for peer-to-peer (P2P) Bitcoin trading.

Sub-Saharan Africa is the second largest P2P trading region after North America, according to Useful Tulips. The region has a weekly trade of approximately $ 16.5 million.

Nigeria provides half of the region’s P2P trading volume, with $ 8.5 million in Bitcoins changing hands weekly. Kenya is the second largest peer-to-peer market in Africa with over $ 3 million in weekly trade. In third place is Ghana with $ 2 million, followed by South Africa with $ 1.6 million.

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

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