In its clear objective of “supporting innovation”, the Central Bank of the Kingdom of Swaziland has decided to begin research in cryptocurrencies.
As the Bitcoin soared past the $7,000 (L100,000) mark for the first time on Thursday, 2 November and as nations around the world have begun their investigations into digital currencies, the CBS has announced its own research into cryptocurrencies.
During the Swaziland Economic Conference, Central Bank chief Majozi Sithole told that “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.”
Lindokuhle Sithole Shabangu, Central Bank’s senior communications officer, made clear that “In essence, the Central Bank, in line with its mandate to issue and redeem currency as well as to promote safe and accessible payment systems, continues to closely monitor developments in the financial services industry with a view to ensure that the regulatory framework remains relevant and appropriate.”
We are at the very beginning of the cryptocurrency era and some day people may sell, rent and buy on SwaziHome.com using one of these cryptocurrencies. Time will tell!
