Tanzania's President Urges Central Bank to Prepare for Crypto

The president's speech follows El Salvador's adoption of bitcoin as legal tender.

Jun 14, 2021 at 9:22 a.m. UTC
Updated Sep 14, 2021 at 1:10 p.m. UTC

Tanzania's president has urged the country's central bank to prepare for wider adoption of cryptocurrency around the world.

  • President Samia Suluhu Hassan said the Bank of Tanzania should "be ready for changes and not caught underprepared" during a speech Sunday, according to reports.
  • "I know that throughout the nation ... they have not accepted or started using these routes. However, my call to the central bank is that you should start working on that development," she said.
  • Her speech took place after El Salvador's adoption of bitcoin as legal tender.
  • Attention will be focused on other countries that spot an opportunity in crypto to boost economic development and stabilize financial instability.
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