DODOMA: Tanzania’s central bank says it is working towards a “phased, cautious and risk-based” introduction of a digital currency for the East African nation.
The Bank of Tanzania “will continue to monitor, research and collaborate with stakeholders, including other central banks, in the efforts to arrive at a suitable and appropriate use and technology for issuance of Tanzanian shillings in digital form,” it said in a statement.
The bank gave no timeframe for when its deliberations might be complete or when a launch could be expected.
It said its researchers were exploring the issuance of different forms of central bank digital currencies (CBDCs), including tokenised and account-based digital currency.
The regulator said it was also studying risks and controls associated with issuance, distribution, counterfeit and usage of digital currencies. — Bloomberg
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