The Central Bank of Nigeria (CBN) has repeatedly warned against cryptocurrency trading and instructed banks to shut accounts of individuals or businesses engaging in cryptocurrency transactions. In addition, numerous African countries have either banned or warned against crypto trading.
However, top government officials, including central bankers and finance ministers, will gather in El Salvador for a meeting on the future of finance.
According to El Salvador’s President, Nayib Bukele, the event will feature 32 Central Banks that will address the deployment of Bitcoin in his country as well as other information.
Today, 32 central banks and 12 financial authorities (from 44 countries) will meet in El Salvador to address financial inclusion, the digital economy, banking the unbanked, and the #Bitcoin rollout and its benefits in our country, according to the tweet.
El Salvador, a South American country, was the first to recognize Bitcoin as legal money. The Central African Republic is the world’s second country to make Bitcoin an official currency alongside its national currency.
El Salvador became the first country in the world to embrace Bitcoin as a legal currency on September 7, 2021, making cryptocurrency an authorized means of trade for goods and services. When the Central African Republic adopted bitcoin in late April 2022, it became the world’s second country to do so.
According to Mr. Bukele’s tweets, African countries make up the majority of those attending the meeting, with the following Central Banks representing their countries:
Angola, Burundi, Congo, Egypt, Eswatini, Rwanda, Gambia, Ghana, Guinea, Lesotho, Liberia, Madagascar, Malawi, Mauritania, Morocco, Namibia, Nigeria, Sao Tome and Principe, Sierra Leone, Senegal, Sudan, Uganda, and Zambia are among the countries represented.
Other countries, such as Zambia, are represented by the Ministry of Finance, with representatives from two senior government agencies attending the meeting in El Salvador. Eswatini and Senegal are in the same boat. Officials from Kenya’s Sacco Societies Regulatory Authority (SASRA) will attend the meeting.
Don’t miss important articles during the week. Subscribe to blockbuild weekly digest for updates
