Share this article
Zambia to Wrap Crypto Regulation Tests by June: Report
The country is also exploring the issuance of a central bank digital currency.
Updated Apr 13, 2023, 6:04 p.m. Published Apr 13, 2023, 8:47 a.m.
Zambia plans on finishing tests that mimic real-life crypto usage by June, the country's Science and Technology Minister Felix Mutati told Reuters on Wednesday. The results from the simulations will assist policymakers in formulating regulations for the sector, according to the minister.
"Our main goal in the area of cryptocurrency is to strike a balance between innovation in terms of digital payments ... against citizens' safety, particularly given that cryptocurrency is very volatile," Mutati told Reuters.
STORY CONTINUES BELOW
Zambia has taken a cautious approach towards crypto. The country's central bank issued a warning in February saying "people who want to deal in them [cryptocurrencies] should have a clear understanding of all the risks that come with such payment and investment instruments,” Bloomberg reported.
The country also said in February it was looking to issue its own central bank digital currency.
CoinDesk has reached out to Mutati for comment.
Read more: Zambia's Central Bank to Explore CBDC Following Crypto Warning: Report
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Key U.S. Senator on Crypto Bill, Lummis, Negotiating Dicey Points With White House
The Republican lawmaker who is among the core negotiators on the U.S. market structure bill said the White House has rejected some ethics language.
What to know:
- Sen. Cynthia Lummis (R-Wyo.) said she is negotiating with the White House on behalf of Senate Democrats trying to insert ethics provisions into Congress' market structure legislation.
- Lawmakers should reveal a new draft market structure bill by the end of the week and hold a markup hearing next week, she said.
Top Stories
