Tanzanian president tells the central bank to prepare for crypto

Tanzanian president Samia Suluhu Hassan has urged the country’s central bank to be ready for the age of cryptocurrencies.

While addressing the country’s central bank on Monday, Hassan emphasized the impact of cryptocurrencies on global finance. Shee urged the apex bank to begin exploring digital assets, noting that “we have witnessed the emergence of a new journey through the internet.”

According to her, East African nations are late to the crypto party and have not recorded any significant milestones with regards to crypto adoption and developments. She said:

Throughout the region, including Tanzania, they have not accepted or started using these routes. My call to the Central Bank is that you should start working on that development. The Central Bank should be ready for the changes and not be caught unprepared.

Hassan’s latest comments come on the heel of El Salvador’s move to make Bitcoin a legal form of money. As reported by BTC PEERS, less than a week after El Salvador’s president revealed his intention of making Bitcoin legal tender, the country’s lawmakers endorsed the bill.

Cryptocurrencies such as Bitcoin could be moving into a new phase of adoption as more countries begin to openly endorse the asset class. Recall that a few days after the El Salvador news broke, Paraguay’s Deputy of the Nation Carlos Antonio Rejala Helman announced that the country is working on an “important project” relating to Bitcoin and PayPal. Similarly, Indian regulators have throttled down on their anti-Bitcoin stance and are open to classifying the cryptocurrency as an alternative asset.