Zambia’s central bank and securities regulator are collaborating to explore the potential of blockchain technology to regulate cryptocurrencies, according to the country’s Technology and Science Minister Felix Mutati.
The country is aiming to promote digital financial inclusion and become a technology hub in Africa by developing its digital infrastructure and attracting investments in the sector.
Zambia’s government previously signed a memorandum of understanding with Overstock’s blockchain land registry subsidiary to provide digital ownership certificates and access to financial markets for rural landowners.
African countries are paying increasing attention to cryptocurrency and the development of regulatory frameworks.
The International Monetary Fund has urged for increased regulation of Africa’s crypto markets, citing the collapse of FTX and its impact on cryptocurrency prices.
