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The Bank of Tanzania is considering the introduction of central bank digital currency (CBDC), the institution stated, saying that it has adopted a phased, cautious and risk based approach to the issue.
When bitcoin’s price tumbled to $36,000 on May 6, Kenyan crypto traders rushed to online marketplaces to purchase it at the low price hoping that it would spring back to over $40,000 in a few days.
The stern warning to all payment service providers, including mobile money operators, says allowing crypto transactions opened the country to fraudulent deals, money laundering, sale of illicit goods and online scams.