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[Makaliki]

Zambia's central bank known as the Bank of Zambia (BoZ) has cautioned members of the general public against cryptos. BoZ says cryptos are not a legal tender in the republic of Zambia. A press released therefore indicates that member of the public involved in cryptocurrency, are doing this at the own risk. This following after the Country's National Assembly has passed the Cyber Bill.

 

[Niftyicon]

It is actually an advice given to protect the citizens from making wrong investment choices. I see this as a normal stance for the government to take and good thing is that there is no contemplation of a ban or restrictions.

 

[kaycee001]

cryptos is the new goldmine i think wat the central bank shld av done is to sent up regulatory agencies that monitors the activities done with cryptos so as to safeguard investors investing into it rather than issuing warnings

 

[Makaliki]

It is actually an advice given to protect the citizens from making wrong investment choices. I see this as a normal stance for the government to take and good thing is that there is no contemplation of a ban or restrictions.

The Country's national assembly was passed a cyber bill that may soon risk the cryptos investors and the bill will give to online user restriction on privacy as the ZICTA will be involved.

 

[ELSA-ELI]

Regardless there is no law which permits or restricts the use of bitcoin and cryptocurrency in Zambia which is comforting to some degree hence what is required of one is to exercise their due diligence research if ever involved in these types of assets and transactions.

 

[Makaliki]

Regardless there is no law which permits or restricts the use of bitcoin and cryptocurrency in Zambia which is comforting to some degree hence what is required of one is to exercise their due diligence research if ever involved in these types of assets and transactions.

Sure, there is no law about cryptocurrency trading, but the negligence and ignorance of the central bank on cryptocurrency does not give any comfort at all, to local cryptocurrency traders.

 

[Emmanuel24]

They just warn their citizens according to their knowledge about cryptocurrency so that they can sound protective to the community. I still think there's need for user's of crpto to spell out the true nature of crypto so that people will not be thinking it in another way.

 

[Makaliki]

They just warn their citizens according to their knowledge about cryptocurrency so that they can sound protective to the community. I still think there's need for user's of crpto to spell out the true nature of crypto so that people will not be thinking it in another way.

Sure, Emmanuel. Cryptocurrency user's community can spell out the truest nature of the crypto, but the same government institutes, say, the central bank, that are supposed to help promote the crypto, are the ones biting the cryptocurrency with bitter and harsh policies, negligence and ignorance.

 

[yourenglishcafe]

Zambia's central bank known as the Bank of Zambia (BoZ) has cautioned members of the general public against cryptos. BoZ says cryptos are not a legal tender in the republic of Zambia. A press released therefore indicates that member of the public involved in cryptocurrency, are doing this at the own risk. This following after the Country's National Assembly has passed the Cyber Bill.

Sensible enough to warn people about it. Many people invest money they cannot afford to loose and if/when the price drops a lot of people find themselves in trouble.

The government where I live takes an even harsher line, crypto is now largely banned.

 

[Kingcypsh]

This is not 1899 for godsake. Crypto currency is the new gold mine. The government hate it because it will give the people more freedom than fiat. They always want to be in control.

 

[yourenglishcafe]

This is not 1899 for godsake. Crypto currency is the new gold mine. The government hate it because it will give the people more freedom than fiat. They always want to be in control.

I think that, yes, part of the reason governments hate it is becuase of the freedom of the currency. But, freedom is not always good - crypto currencies make randsomeware, drug trafficking and all sorts of things like that easier. Cryto makes it harder for government to track criminals, and this is a good reason for them to hate it!

 

[Kingcypsh]

I think that, yes, part of the reason governments hate it is becuase of the freedom of the currency. But, freedom is not always good - crypto currencies make randsomeware, drug trafficking and all sorts of things like that easier. Cryto makes it harder for government to track criminals, and this is a good reason for them to hate it!

So you suggest the government take control of bitcoin? If the government takes over the crypto market then expect a massive inflations in the prices cos government will do anything to favour them.

 

[yourenglishcafe]

So you suggest the government take control of bitcoin? If the government takes over the crypto market then expect a massive inflations in the prices cos government will do anything to favour them.

Not exactly, but I do think that some oversight is required. Living in a world without oversight may seem good at first - giving us "freedom", but I think that after a short time without oversight people will learn how bad the world can be!

 

[Ranamal]

Still ban is there? This is happening in lot of countries because the reason is mainly lot of people are investing on crypto with lack of knowledge this is why the governments taking the decision against crypto

 

[ashim kate]

It is beginning to become very frustrating with the way in which government departments are cracking down on cryptocurrency. The technology that cryptocurrency is bringing is a very good one and I am even expecting that by now they are going to be utilising it because of the transparency that is usually brings.

 

[Juiseth]

I do not think it is of the position of the Central Bank project to try to regulate cryptocurrency but then it is wise of them that they have inform them about how crypto currency can be . I am somebody who believes very well of cryptocurrency even though there are some things that you definitely need to do in order to ensure your safety.

 

[ELSA-ELI]

Well it is not in the way and context put here.The Zambian government has a neutral position as far as cryptocurrency related transactions are concerned.It is not monitoring banks or electrical keys associated with cryptocurrency no sir.Let us have Fingers crossed that it will be to the advantage of the people when that time comes that we all needy.

 

[Ivanr01]

I guess they are trying to dictate their terms on the people which is the reason why they have placed a ban on the people and have made things worst for them like we are seeing in front on us , and many economies that are poor only have this choice because of the people themselves who are involved in fraud and Aml activity

 

[ELSA-ELI]

I guess they are trying to dictate their terms on the people which is the reason why they have placed a ban on the people and have made things worst for them like we are seeing in front on us , and many economies that are poor only have this choice because of the people themselves who are involved in fraud and Aml activity

Hello there,cex,crypterium,Binance,yellowcard and yet to confirm bundle Africa all work and provide deposit and withdraw services to mostly the bank cards and some are even integrating mobile money wallets like spenn.This means you can access those services for cryptocurrency in Zambia.However the government central bank has been categorical that it does not recognize Cryptocurrency and BTC as legal tender.But it has not imposed any sanctions but rather has a neutral position in relation to that.

 

[MayorKayz]

I don't know why some countries are like this. I don't know of they do there research before they ban or are against the usage of cryptocurrency. They are the ones that will go against it and they are the ones that will also receive donations with it like India have done.
I hope they rethink on this and legalize cryptocurrency in there country before it is too late.