The Bank of Zambia and the country’s securities regulator are “testing technology” to enable the regulation of cryptocurrencies.
This announcement was made by the Technology and Science minister Felix Mutati on the ministry’s website.
The minister claimed that “cryptocurrency is the future that the country desires to achieve,” but a policy framework is required to support this “revolutionary technology.”
“The testing of the technology on regulating cryptocurrency will be upscaled in due course as part of deliberate measures to achieve an inclusive digital economy for Zambia,” he said.
Africa’s crypto market increased by more than 1,200% between July 2020 and June 2021, according to analytics firm Chainalysis, with Kenya, South Africa, Nigeria, and Tanzania leading adoption.
Source: Cointelegraph
