In the African country of Namibia, the Central Bank (BON) accepted Bitcoin as a payment method.
Cryptocurrencies are not yet regulated in Namibia. However, the country’s central bank has accepted Bitcoin payment method in its innovation and development frameworks. Namibia thinks it can develop economically by using this new technology.
Namibia Central Bank Approves Bitcoin
BON announced that although the legal processes have not been completed in the country, it is looking forward to cryptocurrencies. The bank will go to legislative regulations in consultation with other units of the country. It is expected that cryptocurrencies will be completely legal in Namibia in the near future.
The central bank said in a statement towards the end of September that although cryptocurrencies such as Bitcoin are still not legally recognized, retailers and dealers are welcome to such a trade. He gave the message that they will go to new regulations with the power they get from this.
BON, which aims to introduce cryptocurrencies into the country, has previously stated that it does not recognize the possession, use and trade of cryptocurrencies.
However, developing technology and economic difficulties also affected the African country. Namibia has now officially declared Bitcoin as a payment method.
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