African Regulators Taking ‘Wait-and-See’ Approach on Cryptocurrency: Ecobank Report

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#49852

12 Aug 2018, 14:52

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African countries want to regulate cryptocurrency, but hardly any one wants to take the lead in responding to the meteoric rise of this technology and asset class.




The report, which examined the regulatory response to cryptocurrencies in the 39 sub-Saharan countries,


A future crash could be felt in the broader economy, hence their scepticism of licensing their use



Crypto tokens and currencies could enable consumers to transact instantly, cross-border and for free, provide them with KYC-compliant digital IDs, and incentivise their behaviour and change the way they engage with governments & service providers.”

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