Swaziland Assessing the Possibility of Cryptocurrency Use
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Nov. 1, 2017
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Swaziland Central Bank Governor Majozi Sithole says they are assessing the possibility of using the cryptocurrencies in the country, Swazi Observer reported.

Addressing the Swaziland Economic Conference (SEC) 2017, Sithole said while they are cautious about the use cryptocurrencies, they don’t want to stand in the way of innovation.

“It may not be wise to dismiss virtual currencies and as the CBS we are learning and we want to accept and support innovation. If this is innovation, we do not want to stifle it. We want to learn more about it,” he said.

Sithole said, however, that the financial technology space where Bitcoin (Bitcoin) falls under is not regulated, which poses a risk to those that are trading with it.

He said should problems arise around the use of such fintech, they would not be able to intervene as a regulator because of the absence of regulatory structures.

“We are aware that people are trading on these platforms and we want to caution people to be careful. This has become a topical issue globally and we are studying it and continually talking to experts on this issue,” he noted.

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