The announcement follows reports that Zanzibar — an autonomous Tanzanian region off the coast of East Africa — is also keen on adopting digital currencies. The move by the BOT also comes almost a month after the Central Bank of Nigeria (CBN) became the first central bank on the continent to launch a CBDC.
As previously reported by Bitcoin.com News, the Bank of Ghana is the only other West African central bank that said it is close to launching its CBDC. Other central banks like the South African Reserve Bank and the Bank of Namibia have indicated they are still investigating the possibility of launching CBDCs.
Yet despite the seeming relaxation of the anti-crypto rhetoric, a report said authorities in the country still want Tanzanians to be cautious when dealing with crypto-related investments.
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