President of Tanzania urges the central bank to explore digital currency use cases.

The President of Tanzania has asked the country's central bank to explore the role digital currencies could play in the country's economy.

Tanzania President Samia Suluhu Hassan urged the country’s central bank to explore the role digital currencies could play in the country’s economy in a move that could see Tanzania on course to introduce greater support for digital assets. President Samia Suluhu Hassan highlighted the growing importance of digital currencies in global finance, suggesting a role for digital currency in developing Tanzania’s economy.

 

“We have witnessed the emergence of a new journey through the internet.”

President further highlighted the lack of support throughout the East African region for digital currency so far. She said there was an opportunity for the country’s central bank to get ahead in setting out its approach towards digital currencies. “We have witnessed the emergence of a new journey through the internet,” President noted. “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,” Tanzania’s President added. 

 

Digital currencies continue to gain mainstream exposure and acceptance. 

Tanzania’s President’s comments come at a time of increasing interest in digital currency and digital assets from the world’s emerging economies. Several countries have warmed up to digital currencies in the last few months. Earlier, the Central American country El Salvador authorized bitcoin as legal tender in the country in a historic move. El Salvador is also working to allow bitcoin mining in the country using volcano-powered clean energy. Though the Central American country received praise from the crypto community, global regulators did not welcome its move to authorize bitcoin as legal tender. 

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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