Crypto currency is not legal tender in Zambia, Central Bank says

THE Bank of Zambia (BoZ) has cautioned members of the public that Cryptocurrencies are not legal tender in the Republic of Zambia.This comes in following the observed increasing public interest in crypto currencies as evidenced by the growing number of enquiries that BoZ has been receiving on the subject.And BoZ has further warned that in most cases there is no legal recourse to customers found using such currencies due to the unregulated nature of crypto currency-related transactions.The BoZ in a statement said Crypto currencies are not legal tender in Zambia because they have not been issued by the bank.The central bank has also explained that it  does not oversee, supervise nor regulate the crypto currency landscape hence all activities related to the buying, trading or usage of crypto currencies are performed at owner’s risk. Post Views: 6,789

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