a commercial bank in kenyaEcobankpublished a report on August 1 that examined the regulatory response to cryptocurrencies in 39 sub-Saharan African countries and found that regulators in most jurisdictions are taking a “wait and see” approach in the hope that they will Learn from your neighbor's mistakes before taking action.

Of the 39 regulatory regimes surveyed, 21 have yet to take a public stance on cryptocurrencies. Only three countries have taken a strong stance on cryptocurrencies, with Namibia issuing an outright ban, while South Africa and Swaziland have taken “favorable and permissive” stances on the asset class, but have not granted them” full” legitimacy. Fifteen other countries sit in the middle, refusing to directly regulate it, pointing out that bitcoin and other cryptocurrencies fall into a legal gray area and warning investors against investing in them.

The bank believes the roller-coaster ride in cryptocurrency prices has swamped broader discussion of the potential benefits the new technology could bring.

for example,

for example,In Kenya, blockchain technology is already being used to “credit-score small businesses”, therefore, in startupsAfter Twiga Foods and IBM entered into a partnership, These small businesses can obtain microloans through mobile phones. On the other hand, the cryptocurrency of young Kenyan entrepreneursMinerWork is in full swing, and they're taking an alternative approach to crowdsourcing to raise money for their startups.

Meanwhile, Bitcoin ATMs are already inincluding Zimbabwe and South AfricaThree African countries, including China, have become a reality.

Digital Currency TransactionTrading platforms are mushrooming across the African continent, with trading platforms in Zimbabwe, Ghana and other markets seeing growing interest in trading bitcoin, ethereum and more than 1,500 other cryptocurrencies.

However, regulation does easily lead to fraud, crime and terrorist financing, which is not good for the development of the industry or the security of the global economy. But is there another possibility: that is, after a few years of the establishment of a new urban area, the city center will slowly migrate, and the old urban area will be gradually abandoned. Is there a possibility of a counterattack in Africa?