Botswana Assesses Virtual Assets Market – Limited Risks to Financial Stability
Botswana’s Financial Stability Council sees minimal risks from the virtual assets market and fintech sector for now, but warns that these risks could grow with technological advancements.
The country is taking steps to regulate cryptocurrencies, partly to address anti-money laundering and counter-terrorism financing gaps. A National Fintech Working Group launched in January 2024 aims to develop a strategy for financial services in line with national priorities.
The report highlights concerns about anonymous digital platforms facilitating money laundering or terrorism financing, and suggests enhanced monitoring and collaboration with law enforcement to address these risks.
Clever Robot News Desk 29th December 2024
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