Tanzanian President Samia Suluhu Urges Africa to Legalize Crypto

The President of Tanzania, Samia Suluhu Hassan has encouraged her nation’s Central Bank to permit dealings in cryptos.

President Samia Suluhu made it clear that while Africans have been using crypto assets for P2P transactions, African nations are yet to fully adopt the greater possibilities. For instance, El Salvador has just made Bitcoin a legal tender in its nation.

It has also begun executing a plan to mine Bitcoin using the geothermal power of its volcanoes. Specifically, Hassan draws light to the fact that East Africa including Tanzania is yet to accept crypto and explore its potential.

Above all, Hassan notes the increasing impact of crypto assets on the global structure of finance.

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She urged the Central Bank to begin work on developing the new technology which she says must be a priority so the nation will not be caught unawares when the world decides to make sudden changes for the future.

Meanwhile, other countries are already prepping their governments to explore and gain from the potential that cryptos have to offer. Panama and Paraguay have begun hinting at possibly adopting Bitcoin and cryptos as well. So far, parts of Africa are already leading in P2P crypto trading. In fact, Nigeria alone contributes up to $8.5 million in trading BTC via P2P transactions. Kenya follows next with $3 million, Ghana with $2 million, and finally, South Africa with $1.6 million.

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