Zambia aims to regulate cryptocurrency as it believes that the cryptocurrency ecosystem will be a driving force for financial inclusion. In this context, Zambian Minister of Science and Technology Felix Mutati discussed the need for cryptocurrency regulation in the country's capital Lusaka. Prior to this development, Ethereum Co-Founder Vitalik Buterin had visited the Zambian Finance Minister along with other Web3 stakeholders.
Mutati announced that the Bank of Zambia and the Securities and Exchange Commission are testing technological requirements for cryptocurrency regulation, Beincrypto reported. Mutati believes that crypto is the future of the country, but the revolutionary technology needs proper regulation.
The government is building the necessary digital infrastructure to reach its target of 4.7 million USD in digital payments. It also wants to attract investment to become an African tech hub.
