Swaziland Central Bank pushes forward with investigations into cryptocurrencies

Swaziland Central Bank pushes forward with investigations into cryptocurrencies

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Last week, the Governor of the Swaziland Central Bank (CBS), Chief Majozi Sithole, said that the bank was cautiously investigating cryptocurrencies according to a report in the Swazi Observer.  Sithole was speaking at the 2017 Swaziland Economic Conference held at the University of Swaziland.

In a bold move, the Governor said that the bank did not want to hamper future financial innovation and he said that the bank was optimistic about the use of technology in the financial services sector.  He went on to say that the bank wanted to learn about these innovative financial technologies and that they would learn from countries that have succeeded in using them.

This was a significant comment from the Governor and it follows on from an internal news publication, the Umntsholi News, in which Senior Communications and International Relations Officer, Lindokuhle Sithole Shabangu, wrote that the Swaziland Central Bank would continue to monitor technical, financial developments around the world to ensure that the regulatory framework remained ‘relevant and appropriate’.  She also indicated that in line with the mandate that the bank has it would ensure that their payment systems will remain safe and accessible.

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