There have been reports that the Bank of Tanzania is thinking about uplifting the crypto ban it had put previously in the year 2019. However, they still lack crystal clarity as the reports say that country’s apex bank is working on the directives given to make sure it regulates the cryptocurrency in the country.
Shortly after El Salvador adopted Bitcoin as a legal tender in its country, Tanzania’s president Samia Suluhu Hassan appeared in front of the media and requested the BOT (Bank of Tanzania) & other financial heads to prepare for cryptocurrencies as it is inevitable. His words sent a strong signal in relation with the future of cryptocurrency in the country.
Although even with the president coming forward in support of crypto, there is no clarity whether Tanzania will accept the existing cryptocurrencies such as Bitcoin or Ethereum or Cardano or it will go with its own digital currency much like China. Even without any clarity on this, Tanzania’s crypto community has welcomed the reports.
The experts though, fear that even if president’s words have sent a strong message, it’s up to Tanzania’s apex bank to take a call on it and this might take time and only the BOT gets to decide any given amount of time. Much like Tanzanian president, Uganda’s president had also talked about reversing the crypto ban in his country in 2017 but the country’s central bank still hasn’t uplifted the ban and things related to crypto are still being regulated as before in Uganda.
Iran allows 30 crypto mining farms
Unlike Tanzania, there is no uncertainty in Iran which has given license to 30 crypto mining farms to mine cryptocurrencies from the premises of Iranian borders according to a Financial Tribune report. The decision has been made by the country’s ministry of Industries and trade.
The decision has come just a couple of weeks after the Iranian president promised to legalize the cryptocurrency by the end of the year provided it is re elected into power after general election.
The 30 mining farms have been divided among different locations. Semnan Province will host the most number of farms, i.e, 6 while Alborz Province has gotten four of them. Mazandaran, East Azarbaijan, and Zanjan provinces have also been allotted to host mining farms while the capital city Tehran has also got one crypto mining farm under its belt.
Iran has always been extremely strict on crypto mining as it consumes a lot of energy which Iran can hardly afford. The country has been struggling with power shortages regularly and miners have been a major reason behind this according to authorities.
As a result, Iran had banned crypto mining in May this year and a week before, it had captured thousands of computers used to mine cryptocurrencies.