The Bank of Tanzania is accelerating work on a regulatory framework for digital assets, according to Governor Emmanuel Tutuba. He said the relevant laws and regulations have entered the final drafting stage and will cover virtual assets including cryptocurrencies and stablecoins. Tutuba said the effort is intended to strengthen investor protection, with particular attention to young people participating in the crypto market. He also said the framework is meant to address risks tied to money laundering, terrorist financing, and other illicit activity, while improving the central bank’s capacity to supervise the digital asset market. The update points to a more formal approach to crypto oversight in Tanzania as policymakers move closer to completing the legal structure.
On July 16, BlockBeats reported that Bank of Tanzania Governor Emmanuel Tutuba said the central bank is stepping up work on a regulatory framework for digital assets, with the relevant laws and regulations now in the final drafting stage.
According to Tutuba, the framework will cover virtual assets including cryptocurrencies and stablecoins. He said the move is intended to strengthen investor protection, especially for young investors taking part in the crypto market, while also addressing risks related to money laundering, terrorist financing, and other illegal activity. It is also expected to improve the central bank’s ability to supervise the digital asset market.
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