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Bitcoin accepted – Namibia allows payments in BTC and cryptocurrencies


Windhoek takes a small step towards crypto – While his central bank digital currency (MNBC) is still in the pipeline, the Bank of Namibia just issued an opinion rather favorable to the use of cryptocurrencies. I have lined several recommendationswarnings and cautions, this little ” yes “ to crypto still has the merit of existing in an international banking landscape reluctant to encourage the use of currencies decentralized. Direction Southern Africa to take stock.

A small “yes” from the Bank of Namibia for Bitcoin & Co

On September 22, the Bank of Namibia (BON) organized a day of reflection on the theme: “ central bank digital currencies and virtual assets ». At the end of this round table, the head of communication and international relations – Kazembire Zemburuka – I have published a briefing note. Their conclusion give pride of place to MNBCs but leave the door ajar to decentralized cryptocurrencies.

One of the announcements of the BON is the placement of ” Virtual assets and virtual asset providers in the regulatory framework of innovations and FinTech ». All relevant from the Financial Institutions Supervisory Authority in Namibia (NAMFISA). She will be able to bring in due time “ Amendments to the laws and regulations in force » in consultation with the BON. But, the loudest statement is about currencies ” to tell about than bitcoin” :

“Although still not legally recognised, retailers and resellers can take money under this form if they are willing to participate in such exchanges.”

Announcement of the event organized by the Bank of Namibia – Source: Twitter

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A central bank digital currency on the cards

The Governor of BON – Johannes Gawaxab – has however never hidden his reluctance with regard to currencies “ Tell them bitcoin”. I said last year on this subject that the bank does not acknowledge, support or recommend the possession, use and trading of cryptocurrencies by the public”. Ending his intervention with a clear warning: there will be no legal recourse in the event of loss of money”.

But we have to believe that certain arguments were able to convincing. The now recognizes that Argentina’s future is at a turning point.. Moreover, the institution is aware that many “are currently before the courts for the purposes of” currency regulation also more than their sovereignty. As a good banker, Johannes Gawaxab does not hide his preference for an MNBC:

“If MNBCs are explored and implemented with the necessary care and caution, they could hold immense potential upside for a more stable, more secure, more widely available, and less expensive means of payment than private digital currencies. »

It’s hard to blame him for preaching for his parish! Especially since the bank recognize not wanting ” be rushed for his MNBC. She clarified that her work currently has a working document for the end of October. In the meantime, its population can use other coins digital, more to its risks and profiles. And, to say the least, there is no shortage of them in the not always wonderful world of cryptos.

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