During the opening of the latest Monetary Policy Conference,  The Reserve Bank of Malawi (RBM) Governor Dalitso Kabambe said that the central bank is still cautious on the adoption of cryptocurrencies (digital currencies) as legal tender because it could affect monetary policy decisions.

The conference was aimed at deliberating such emerging financial matters and provide insights into how the country can move forward with similar debates taking place globally. He said technology firms want to legally push for cryptocurrencies usage to run side by side with central bank currencies. Overall, Kabambe described emergence of cryptocurrencies as the uncharted territory.

In June this year, RBM 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, in the newspapers, the research would include detailed data on the topic.