Bank of Tanzania ‘working on CBDC’, governor says

Luoga says “cryptocurrencies are not safe” and president has urged work on CBDC

Bank of Tanzania
Bank of Tanzania

The Bank of Tanzania “has already begun preparations to have its own” central bank digital currency (CBDC), governor Florens Luoga said on November 25.

Luoga said the central bank had to “ensure that our country is not left behind in the adoption of central bank digital currencies”, several media outlets reported.

The central bank’s Twitter feed quotes Luoga as telling a financial conference that “we cannot give timelines when to issue regulations”, as the central bank is “still researching”

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