The sudden death of Tanzanian President John Pombe Magufuli, also a coronavirus skeptic, shocked Tanzanian citizens and the entire world. However, the cryptocurrency community is curious about what the new government would have in store for them.
Bitcoin still has a long journey to be widely accepted. This is not because it is hated or not suitable to be used in making transactions, but it’s majorly because of its volatile nature and many factors that need to be worked on. Bitcoin is very volatile to be widely putative as a stable currency.
There is an opinion that European Union (EU) countries offer more favourable conditions for running cryptocurrency businesses. That is why companies tend to choose the European market over the United States.
The Central bank of Lebanon (BoL) is planning to release its state-backed digital currency known as digital pound. The bank is now the latest financial regulator to embrace the roll out of a central bank digital currency CBDC. The official launch is planned for 2021.
The anonymity of cryptocurrency transactions has been a pain in the neck of most financial regulators. Countries are strengthening their regulation to track those wishing to use digital currencies for illegal purposes. However, the community players are constantly seeking ways to preserve their privacy.