Cryptocurrency in Tanzania

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NewsLEGAL ALERT: Central Bank Outlaws the Use of Cryptocurrencies in Tanzania

13 November 2019by finandlaw-admin

The Central Bank of Tanzania (BOT) has issued a public notice on 12th November, 2019 against the use of Virtual Currencies (Cryptocurrencies) in Tanzania. The Notice cautions the public against trading, marketing and usage of virtual currency because doing so is contrary to existing foreign exchange regulations. According to the notice, the Central Bank insisted...

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NewsLEGAL ALERT: The Central Bank prohibits Operating Payment Systems Instruments Without Approval

17 October 2019by finandlaw-admin

The Central Bank prohibits Operating Payment Systems Instruments Without Approval: On 15th October, 2019 the Central Bank of Tanzania (Bank of Tanzania) issued a Circular No. LB.178/179/01/8 to all Operating Banks and Financial Institutions in Tanzania warning against engaging, partnering or enter into agreements with other entities to operate payment systems instruments without the Central...

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