Tanzania's Central Bank to Develop Regulatory Framework for Cryptocurrencies and Stablecoins
2026-07-16 02:48
Odaily Planet Daily News: The Governor of the Bank of Tanzania, Emmanuel Tutuba, stated that the central bank is finalizing the legal and regulatory framework for digital assets, with the scope of regulation covering virtual assets, cryptocurrencies, and stablecoins, in order to strengthen oversight and supervision.
Emmanuel Tutuba noted that many young people are investing in related fields, and the central bank has received complaints from individuals incurring losses in cryptocurrency-related transactions. The new rules will be used to protect investors in Tanzania.
He added that the new regulations will also address the risks of money laundering, terrorist financing, and other illegal activities associated with virtual assets, requiring entities involved in such activities to operate in accordance with the forthcoming guidelines.
Emmanuel Tutuba noted that many young people are investing in related fields, and the central bank has received complaints from individuals incurring losses in cryptocurrency-related transactions. The new rules will be used to protect investors in Tanzania.
He added that the new regulations will also address the risks of money laundering, terrorist financing, and other illegal activities associated with virtual assets, requiring entities involved in such activities to operate in accordance with the forthcoming guidelines.
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