[ccpw id="5"]

[ccpw id="5"]

HomeCryptoZambian authorities test technology for crypto regulation money moguls

Zambian authorities test technology for crypto regulation money moguls


  • The Zambian central bank and securities regulator are currently testing the technology to regulate cryptocurrencies.
  • The country is already creating the necessary infrastructure to help achieve this goal.

Zambia’s central bank and securities regulator are testing technology to regulate cryptocurrencies, a Zambian government minister has said.

Felix Mutati, Minister of Technology and Science of Zambia, Saying that the country’s central bank and the Securities and Exchange Commission are working on testing technology to regulate cryptocurrencies.

The minister recently remarked that cryptocurrency is a revolutionary technology that represents the future that his country aspires to achieve.

Mutati’s aspirations

Mutati also said regulatory technology testing will soon be ramped up as part of efforts to help Zambia achieve an inclusive economy.

In addition, the minister said that Zambia, which aspires to become the technology hub of the region, is already building the necessary infrastructure to help the country achieve this goal.

Although the Bank of Zambia has previously advised against the use of cryptocurrencies such as bitcoin, Mutati’s comments suggest that President Hakinde Hichilema’s administration is warming up to cryptocurrencies.

Mutati said that Zambia has established itself as a preferred investment destination for many investors. He further said that the country has created a magnetism that attracts investment, and it is one of the few African countries that has done so.

What are your thoughts about the future?

Instead of the digital payments infrastructure once envisioned, the minister sees cryptocurrencies as a driver for financial inclusion, as well as a game changer for the national economy.

Zambia hopes to achieve this through a yet-to-be-launched central bank digital currency, as well as using cryptocurrencies to advance the country’s financial inclusion (CBDC) agenda.

Formerly Bank of Zambia began Examine the benefits and drawbacks of using a CBDC, with findings expected in the fourth quarter of last year.

The bank wanted to launch a CBDC because it believes it has the potential to close the financial exclusion gap and reduce transaction costs. However, before launching a CBDC, the central bank said it needed to understand the study’s findings.


Please enter your comment!
Please enter your name here


New threat to SBI-HDFC Bank customers! Scammers send such a link, they are forced to click, and money is lost from the account. ...

New Delhi. Cases of cyber fraud are increasing day by day in the country, in such a situation it is very important that you be...

CBDC adoption surges in Nigeria amid cash crunch money moguls

Nigeria is witnessing increased CBDC adoption roughly 18 months after launching its national CBDC amid acute cash shortages. The value of Einara's transactions has risen to...

Gorakhpur Link Expressway: Gorakhpur will soon be connected to Purvanchal Expressway, the journey to Lucknow will be completed in 3.5 hours money moguls

reflexesNow waiting 9 months for Gorakhpur Link Expressway62% of the work on the Link Expressway has been completedLink Expressway will pass through 4 districts of...

Will the new MakerDAO changes restore trust in DAI? Checking in… money moguls

MakerDAO has a new proposal to introduce changes to its PSM operations. DAI supply has declined since the decoupling of the USDC due to a lack...

Most Popular