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Tanzania ‘Cautious’ on CBDC Adoption After Initial Research

Tanzania's central bank says it is still considering the introduction of a central bank digital currency (CBDC) but will be a taking "phased, cautious and risk-based approach" after identifying several challenges that could impact its implementation. According to a Jan. 14 public notice from The Bank of Tanzania, since its 2021 announcement about a possible CBDC rollout, the East African country formed a multidisciplinary technical team to explore the risks and benefits of CBDCs. The bank revealed its team has conducted research looking into different types of CBDCs, models for issuance and management and whether it could be token-based or account-based. (Cointelegraph)

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