Exactly a month ago, the central bank released the statement after noting an increased public interest in cryptocurrency, through the growing number of inquiries on the subject received from the general public and other stakeholders, to which RBM responded “Reserve Bank of Malawi wishes to advise the general public that cryptocurrencies are not legal tender in Malawi.” Now the RBM has placed a call for a research proposal on the digital currencies.

In an advertisement placed in the newpapers today, RBM will hold a Monetary Policy Conference, later in November this year, where among other issues, the extent of cryptocurrency will be discussed. RBM has therefore called on proposals from experts that are interested in undertaking research work on “The Extent of Cryptocurrencies in Malawi”. According to the ad placed by the central bank, the  research must include detailed data on the researched topic.

The development may reveal Malawi’s interest in the digital coins, as they have become platforms for investment and trade. The growing interest by Malawians may therefore have the central bank consider allowing the cryptocurrency firms to operate in Malawi, should the research findings indicate that Malawians have indeed benefited from the virtual currencies.

According to the statement released last month, RBM’s main concerns were risks that are associated with the use of cryptocurrencies and similar online trading schemes, which are often connected to money laundering, vulnerability to cybercrimes, hacking and other fraudulent activities.