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❕NEWS Tanzania Central Bank Reconsiders Crypto Ban As Influenced By Presidential Endorsement

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The Bank of Tanzania reconsiders its decision ln crypto ban and seeks redirection on that. This reconsiderations came after President Hassan's positive stance on crypto and advised central banks to explore Bitcoin and digital assets earlier this month. Also, El Salvador's Move on making bitcoin a legal tender helped too. The Chairman of the Tanzania Bankers Association, Abdulmajid Nsekela added that the move will bring varieties via financial transactions in the country.
Share your views on this development.
 
They can actually do that of they cannot the flow in and going out and the sources of the currency , they should either develop rules or ban it strictly tbh actually
 
I don't get , is it that central bank are actually reconsidering on banning crypto after the president statement , because that's not a good development , I really want more acceptance of it
 
Well I wouldn't mind if this decision is for the interest of the masses and the economy with the way crypto is dumping. However, they're indecisive about this at the moment.
 
It is quite sad to see government of country being harsh in banning cryptocurrency when they have not really understood what it is all about.
 
The governments and central banks are fearing that they could be a collapse of the traditional banking industry or arbitrary appropriation of money by the governments.
 
So does it means that without the president acceptance there will still be a ban here. Then it seems they do not believe in crypto and they might still go back to banning it again
 
So does it means that without the president acceptance there will still be a ban here. Then it seems they do not believe in crypto and they might still go back to banning it again
The Tanzanian President Samia suluhu Hassan had at some point this year (2021) given a presidential directive to Tanzania's Central Bank to prepare for cryptocurrencies, which the Tanzanian Central Bank had banned in November 2019. Yes, it would require a presidential acceptance.
 
The governments and central banks are fearing that they could be a collapse of the traditional banking industry or arbitrary appropriation of money by the governments.
The Tanzanian President Samia suluhu Hassan had at some point this year (2021) given a presidential directive to Tanzania's Central Bank to prepare for cryptocurrencies, which the Tanzanian Central Bank had banned in November 2019. Yes, it would require a presidential acceptance

I think this is same thing with my country I really don't know why the bank are so much interested in banning crypto , but it seems that after they have banned or when banning It , they won't first consult the advice of the Senate or pass a bill
 
I think this is same thing with my country I really don't know why the bank are so much interested in banning crypto , but it seems that after they have banned or when banning It , they won't first consult the advice of the Senate or pass a bill
Governments control fiats currencies through Central Banks via a policy they call 'monetary policy'. Which enables them to dictate how fiat currencies are transferred, track currency movements, profits and taxes and also trace criminal activities. I think governments and central banks are afraid of losing this control and monoploy.
 
Governments control fiats currencies through Central Banks via a policy they call 'monetary policy'. Which enables them to dictate how fiat currencies are transferred, track currency movements, profits and taxes and also trace criminal activities. I think governments and central banks are afraid of losing this control and monoploy.
Yeah crypto is more decentralized and if the existence of crypto could be over used in the country , I think the government might actually find it hard to control inflation and others
 
Yeah crypto is more decentralized and if the existence of crypto could be over used in the country , I think the government might actually find it hard to control inflation and others
The fear of the government will one day prove unreasonable, us people will one day not need the approved of the parliament or the central bank to print money or control of currency. That government officials are making huge profits by taxing citizens heavily.
 
The fear of the government will one day prove unreasonable, us people will one day not need the approved of the parliament or the central bank to print money or control of currency. That government officials are making huge profits by taxing citizens heavily.
Exactly after taxing they would not duly create the needed job for the citizens , and many of the citizen would sort out things for themselves and truly very soon crypto adoption would spread till the government can no longer do anything
 
I think this is same thing with my country I really don't know why the bank are so much interested in banning crypto , but it seems that after they have banned or when banning It , they won't first consult the advice of the Senate or pass a bill
Well banking suffered negatively with the massive adoption of crypto. People now preferred saving money in their crypto wallets or exchanges than their bank accounts.
 
Well banking suffered negatively with the massive adoption of crypto. People now preferred saving money in their crypto wallets or exchanges than their bank accounts.
Yeah I think people want more investment profit , instead of just leaving their money in the bank and making little profit , I think people have a reason for ever doing so
 
Exactly after taxing they would not duly create the needed job for the citizens , and many of the citizen would sort out things for themselves and truly very soon crypto adoption would spread till the government can no longer do anything
The government has unreasonable accuses they are hiding in, one of them is that, they fear cryptocurrency could be used a circumvent capital controls, can be used for money laundering or ilegal purchases.
 
The government has unreasonable accuses they are hiding in, one of them is that, they fear cryptocurrency could be used a circumvent capital controls, can be used for money laundering or ilegal purchases.
Although normal crypto can be used for money laundering and they took it as a very important element and situation , forgetting that flat could be used for such too
 
Although normal crypto can be used for money laundering and they took it as a very important element and situation , forgetting that flat could be used for such too
Yeah, fiat has been used to fund criminal operations, the proportional is directly. The fear of governments is the decentralization of the crypto, that might lose the 'monetary policy'.
 
Yeah, fiat has been used to fund criminal operations, the proportional is directly. The fear of governments is the decentralization of the crypto, that might lose the 'monetary policy'.
Exactly if it's decentralized am pretty sure that they would have no control when it comes to monetary policy ,and flat money is all the power and tool they use to control the people
 
Exactly if it's decentralized am pretty sure that they would have no control when it comes to monetary policy ,and flat money is all the power and tool they use to control the people

You are right Wisdom, fiat currency is the only tool the government uses to control the citizens they tax heavily, they leave unemployed and other injustices.
But power belongs to the people, when a large proportional people will understand Cryptocurrency they'll voice out.
 

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