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Wary of Crypto, Tanzania Shifts Closer to Own Digital Currency

  • Central bank sent officers to nations with digital currencies
  • Governor Luoga wary of growing cryptocurrecy speculators

Tanzania is edging closer to introducing a central bank digital currency to help counter the rising popularity of cryptocurrencies in the nation.

“It’s important for us to provide a central bank digital currency as a safe alternative because many people are being affected by cryptocurrency speculators,” Bank of Tanzania Governor Florens Luoga said in an interview on Monday in Dar es Salaam, the commercial capital. The bank can’t ignore the technological advancement of money, he said.