In this week’s news roundup, we will cover the change of tone about crypto in Tanzania, Luno’s new customer milestone, and more.

Luno Hits 8 Million Customers Milestone

LunoLuno announced that it has hit a major milestone in its growth, hitting eight million customers.

With a major surge in customers from 4mn in December 2020 to 5.1mn in May 2021, Africa accounts for Luno’s largest user base and the platform’s recent figures reinforce the huge appetite for cryptocurrencies across the continent. Last month, the platform announced it recorded trading volumes of $7bn in Africa alone, and downloads of the Luno app have soared by 271% on the continent since January 2020.

Prepare for Cryptocurrencies, Tanzanian President Tells Central Bank

Tanzania’s President Samia Suluhu Hassan has asked the Central Bank to prepare for cryptocurrencies.

“I know that throughout the nation, including Tanzania, they have not accepted or started using these routes. However, my call to the Central Bank is that you should start working on the development. The Central Bank should be ready for the changes and not be caught unprepared,” she said.

Unlike other African governments that have criticised cryptocurrencies, Tanzania seems to be taking a different approach under the new administration. President Suluhu wants the country to prepare for the dawning age of crypto and blockchain. In 2018, the Bank of Tanzania warned citizens against trading cryptocurrencies. citing volatility as a risk to their investments.

El Salvador Becomes the First Country to Accept Bitcoin as Legal Tender

El Salvador, a Central American country, has become the first country to accept bitcoin as legal tender. The country’s Congress endorsed President Nayib Bukele’s proposal to adopt bitcoin on June 9, 2021.

El Salvador does not have a currency of its own, and President Bukele believes bitcoin could help its citizens in various ways. The country will, however, continue to use the USD as legal tender.

“It will bring financial inclusion, investment, tourism, innovation, and economic development for our country,” he tweeted.

While the move has elicited positive reactions from the Bitcoin community, the World Bank has refused to assist the country implement bitcoin as legal tender. According to the bank, the environmental and transparency issues surrounding bitcoin have prevented it from offering El Salvador the help it needs.

Do you think that the Tanzanian President is right to prepare the Central Bank to embrace Cryptocurrencies? Is this good news for the Sub-Saharan Crypto community? join the bits.africa community to share your view and review other enthusiasts’ opinions.