Skip to content
Real Cryptocurrency Hub

Real Cryptocurrency Hub

Crypto Comeback Pro is an auto trading platform that allows you to invest in the crypto market and start making money right away. Sign Up HERE

  • Home
  • Start Trading
  • English
    • English
    • Español
    • Italiano
    • Polski
    • Svenska
    • Deutsch
    • العربية
  • News
    • Mining
    • Bitcoin (BTC)
    • ATM
  • Guides
  • How To’s
  • Exchange/Wallet
  • Brokers
  • Bitcoin Price Prediction
  • ✉ Contact
  • Home
  • Crypto News
  • Tanzania Central Bank Reportedly Begins Exploring A CBDC
  • Crypto Marketplace
  • Crypto News

Tanzania Central Bank Reportedly Begins Exploring A CBDC

Patrik Verhoek December 22, 2021 2 min read

As per the reports, Tanzania has initiated examining the possibility of a CBDC (central bank digital currency). The respective country is moving after Nigeria (which introduced its digital currency in the recent month. Other countries from Africa have likewise declared strategies to launch their CBDCs.

Tanzania gets into CBDC

A report of Bloomberg on Friday stated that Florens Luoga (the Governor of Bank of Tanzania) declared the strategies regarding the CBDC of the country on Thursday during the 20th COFI (Conference of Financial Institutions). He added that their country is not lagging in the matter of a CBDC’s adoption as some preparation has already been initiated by the Bank of Tanzania regarding the country’s CBDC. Accordingly, the governor mentioned that the bank is additionally pursuing to increase examination of the subject of the digital currencies as well as to enhance its group’s capacity.

He moved on to explain that the country got inspiration from Nigeria’s issuance of a CBDC named eNaira in the recent month. Nigeria collaborated with a Germany-based FinTech for a digital currency’s launch to be utilized in association with the existing physical naira. The West Africa-based country counted to be the second which authoritatively has a CBDC following the Bahamas (which introduced one in the recent year). The governor further pointed out that the country’s central bank is devising a strategy to incorporate a variety in its cross-border exchange reserves.

In this respect, he said, it will purchase gold from native refineries. The planned monetary gold to be purchased should contain a purity percentage of up to 99.5%. He correspondingly presumes the inflation rate of the country to remain lower than the specified 3 to 5 percent during 2021-22. Luoga revealed that the bank is even now apprehensive about cryptocurrency, and he stated that it is presently illegal (to warn people against investing in it).

Since 2019, there is a ban over cryptocurrency across Tanzania following the statement of the central bank saying that the country’s law does not recognize it. Nonetheless, this may get modified shortly as the bank is operating on rolling back this prohibition. The respective development has resulted from the order of Samia Suluhu Hassan (the country’s president) to get ready for cryptocurrencies right after his placement as the president.

Digital currency advancement in African nations

Governments are one after the other, entering the CBDC field. In the case of Africa, the adoption of CBDCs is gradually surging. Nigeria is considered to be the earliest country in Africa to introduce its CBDC. Other such countries in the continent are also looking for the potential chances for the provision of CBDCs for the economies thereof.

Post Views: 445

Continue Reading

Previous: Five Democratic Senators Reject US President’s Nominee For OCC
Next: Indian Crypto Bill Creator Says Description Of the Bill Was A Mistake

Related Stories

Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions
2 min read
  • Crypto News

Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

August 3, 2022
Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement
2 min read
  • Crypto News
  • Price Analysis
  • Trading

Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

August 2, 2022
Coinbase Obtains Operational License In Italy
3 min read
  • Crypto News
  • Cryptocurrency Exchange / Crypto Wallet

Coinbase Obtains Operational License In Italy

August 1, 2022

Read our disclaimer

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$23,915.00
2.44%
ethereum
Ethereum (ETH)
$1,775.73
3.56%
tether
Tether (USDT)
$1.00
0.18%
usd-coin
USD Coin (USDC)
$1.00
0.00%
binancecoin
BNB (BNB)
$326.37
0.33%
ripple
XRP (XRP)
$0.378383
1.01%
cardano
Cardano (ADA)
$0.54
0.65%
polkadot
Polkadot (DOT)
$9.26
5.33%
dogecoin
Dogecoin (DOGE)
$0.071042
1.51%
Uniswap
Uniswap (UNI)
$8.82
-1.09%

Recent Posts

  • Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

    Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

    Hodlnaut has announced that it has frozen its services for the users. The firm made an official announcement
  • Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

    Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

    Lido DAO (LDO) has proven to be one of the top performers in the cryptocurrency industry in the
  • CTproz Review – A Recommended Crypto Broker

    CTproz Review – A Recommended Crypto Broker

    CTproz Review The number of people engaging in online trading continues to rise, and if you don’t want
  • Coinbase Obtains Operational License In Italy

    Coinbase Obtains Operational License In Italy

    One of the top crypto exchanges in the market, Coinbase recently achieved yet another milestone, as it was
  • Central Bank Of Honduras Warns About Crypto Dangers

    Central Bank Of Honduras Warns About Crypto Dangers

    A release was recently published by the Central Bank of Honduras that is aimed at clarifying the institution’s

Start Trading

Categories

Top Posts

  • Compound Hits $15 Billion in TVL As DeFi Booms

    Compound Hits $15 Billion in TVL As DeFi Booms

    Compound, the leading decentralized finance protocol, hits record heights as the total lending value soars to over $15
  • US Congressional Hearing Focuses on Disclosure in terms of Digital Asset Regulation

    US Congressional Hearing Focuses on Disclosure in terms of Digital Asset Regulation

    On Thursday, the House of Representatives in the US had a hearing on digital asset regulation and one
  • Bitcoin Tries Hard to cling to $20k as Its Future is Expected to be Bumpy

    Bitcoin Tries Hard to cling to $20k as Its Future is Expected to be Bumpy

    Just when the price of Bitcoin (BTC) elevated a bit, many investors thought it was growing for good.
  • Revolut Opens Doors for Bitcoin Withdrawals for their UK Users

    Revolut Opens Doors for Bitcoin Withdrawals for their UK Users

    Revolut’s UK users shall be happy to learn that the firm is now allowing transfers off their platform
  • Price Analysis of NDN Link (NDN) and Newton (NEW)

    Price Analysis of NDN Link (NDN) and Newton (NEW)

    According to the price analysis data, NDN Link has observed a 99.9% rally that has pushed its price

Archives

You may have missed

Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions
2 min read
  • Crypto News

Withdrawals Have Been Frozen By Hodlnaut Citing Market Conditions

August 3, 2022
Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement
2 min read
  • Crypto News
  • Price Analysis
  • Trading

Following a Strong Trend, Lido DAO is All Set to Record a Downward Movement

August 2, 2022
CTproz Review – A Recommended Crypto Broker
3 min read
  • Brokers
  • Reviews

CTproz Review – A Recommended Crypto Broker

August 1, 2022
Coinbase Obtains Operational License In Italy
3 min read
  • Crypto News
  • Cryptocurrency Exchange / Crypto Wallet

Coinbase Obtains Operational License In Italy

August 1, 2022
  • Kraken
  • OrbitGTM
  • Fxoro
  • KuCoin
  • Huobi
  • Bitfinex
  • PrimeXBT
  • CTmatador
  • DXCBIT
  • PrimeHolders
  • CMC Markets
  • XCGIN
  • Virtual Payout
  • Gamma Capitals
  • Towards Soure
  • CoinsMarkets
  • ArgoTrade
  • Global Solution
  • CTProz
Copyright © All rights reserved. | DarkNews by AF themes.
  • bitcoinBitcoin(BTC)$23,915.002.44%
  • ethereumEthereum(ETH)$1,775.733.56%
  • tetherTether(USDT)$1.000.18%
  • usd-coinUSD Coin(USDC)$1.000.00%
  • binancecoinBNB(BNB)$326.370.33%
  • rippleXRP(XRP)$0.3783831.01%
  • cardanoCardano(ADA)$0.540.65%
  • SolanaSolana(SOL)$42.701.19%
  • polkadotPolkadot(DOT)$9.265.33%
  • dogecoinDogecoin(DOGE)$0.0710421.51%
  • UniswapUniswap(UNI)$8.82-1.09%
  • bitcoin-cashBitcoin Cash(BCH)$144.241.31%