Tunisia’s Minister of Finance, Ali Kooli, said during a television interview over the weekend that he plans to change the country's cryptocurrency laws.
Bitcoin ownership should be “decriminalized,” he said, according to an English translation.
While regulators across Africa seemingly struggle with crypto policy, offering contradictory statements and issuing crackdowns, adoption by African retail users is only speeding up. In an appearance on CoinDesk TV’s “First Mover” earlier this month, Paxful CEO Ray Youssef said the African continent is leading the world in global cryptocurrency adoption and encouraged the crypto community to “have all eyes on Africa right now.”
But regardless of statements, efforts to get crypto-friendly laws on the books in Tunisia have languished, resulting in events like April’s arrest.
Even without regulatory clarity, crypto adoption in Tunisia is growing at a record pace. According to a report from Carthage, an English-language Tunisian publication, Tunisian user registrations on crypto exchanges like CEX.IO are up 11% in the first quarter of 2021 compared to last year.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.