The Bank of Tanzania (BoT) is finalizing comprehensive regulations for cryptocurrencies and virtual assets, aiming to balance financial innovation with investor protection.

Governor Emmanuel Tutuba announced the development during a visit to the Dar es Salaam International Trade Fair, emphasizing the need to address risks like money laundering and financial losses among young investors.The new framework will govern virtual assets, cryptocurrencies, and stablecoins, ensuring compliance with national security and financial stability.

The move responds to growing participation in digital asset markets, particularly among Tanzanian youth, and concerns over illicit activities linked to cryptocurrencies.

The regulations will establish operational guidelines for market participants, safeguarding both individual investors and the broader financial system.This initiative positions Tanzania alongside countries like Nigeria and South Africa in developing crypto regulatory frameworks.

The BoT also highlighted efforts to improve financial inclusion through digital solutions showcased at the trade fair, underscoring its role in maintaining a secure and inclusive financial environment.