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Cryptocurrency should not be taken for granted, Governor of the Central Bank of Swaziland

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The Governor of the Central Bank of Swaziland (CBS) Majozi Sithole issued an optimistic statement on digital currencies. He added that the central bank is advancing technology research.

In his speech at an economic forum in late October 2017, Sithole asserted that it might be prudent to reject cryptocurrencies as they can be very

"It may not be wise to reject virtual currencies and as the CBS we learn, and we want to accept and support innovation, if that's the case. Innovation, we do not want to choke CAS positive position on digital currencies

From the beginning, CAS has adopted a positive digital vision, and in August 2017, the Communications Manager of Central Bank, Sithole Shabangu, presented a brief overview of virtual currencies and pointed to the study conducted by the central bank on the cryptocurrencies in an internal press circular that was published

[19459005"EssentiallytheCentralBankinaccordancewithitsmandatetoissueandredeemcurrenciesaswellastopromotesecureandaccessiblepaymentsystemscontinuestocloselymonitortheevolutionofthefinancialservicesindustrytoensurethattheregulatoryframeworkremainsinplacerelevantandappropriate

She further reiterated that the development and use of cryptocurrencies should be done in a manner

"The Bank recognizes its role in supporting innovation and the adoption of new technologies in the industry. With many other regulatory institutions around the world adopts an optimistic but cautious view that the financial services industry will certainly benefit from these technologies, but that their development and deployment must be done in a manner that sufficiently preserves the technologies. interest of users. "

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