Zambia to start work on the cryptocurrency regulation
Zambia is set to begin regulating cryptocurrencies, as announced by the Ministry of Technology and Science. The move aims to support innovative financial technology and foster an inclusive digital economy. The country sees cryptocurrency as a tool for financial inclusion and a potential game-changer for its economy.
In the recent announcement from the Ministry of technology and science of Zambia Mr Felix Mutati, the central financial institutions in Zambia will soon introduce legislation that would regulate the cryptoassests, and in particular Central Bank Digital Currency (CBDC).
The Zambian Minister for technology and science, pointed out in the statement that: ‘there is a need for a policy framework that supports this revolutionary technology.’
In his words, Zambia is seeking the opportunity to embrace this innovative finance technology and will use the regulatory framework ‘as part of deliberate measures to achieve an inclusive digital economy for Zambia’. ‘Cryptocurrency will be a driver for financial inclusion and a change maker for Zambia’s economy’ he added.
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