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Tanzania has begun preparations to launch its own CBDC

Bank of Tanzania, the country’s central bank, has begun the process of launching its own digital currency. Governor Florens Luoga reportedly revealed the news at the central bank-organized 20th Conference of Financial Institutions (COFI) on Thursday. He said, “the Bank of Tanzania has already begun preparations to have its own CBDC” to ensure that the country is not left behind the adoption of CBDCs. To that end, the central bank is also looking to expand its CBDC research and development …