Tanzania Finalises Crypto Regulations as African Digital Asset Rules Expand

Key Takeaways:

• Tanzania is finalising a regulatory framework for cryptocurrencies.
• The move represents a significant shift from the country’s historically cautious stance on digital assets.
• Tanzania joins a growing list of African countries replacing outright restrictions with regulatory oversight.

The Bank of Tanzania (BoT) says it is putting the finishing touches on a formal regulatory framework for cryptocurrencies, stablecoins, and other virtual assets. If completed, it would give the country its first dedicated rulebook for overseeing digital asset activity.

BoT Confirms Framework Is Nearly Complete

BoT Governor Emmanuel Tutuba disclosed the development during a visit to the central bank’s pavilion at the 50th Dar es Salaam International Trade Fair.

He said the bank is “currently finalizing the preparation of laws and regulations for the supervision of digital assets, particularly virtual assets, cryptocurrencies and stablecoins.”

The BoT intends to tighten oversight of the crypto market, which has attracted an increasing number of young Tanzanian investors.

The announcement builds on years of preparatory work by the BoT. This work includes research into a potential central bank digital currency. It also includes a pilot assessment of crypto trading activity in Dar es Salaam and Zanzibar, conducted through its regulatory sandbox.

Tanzania has never had a dedicated legal framework for crypto. Its digital asset sector has operated in a grey zone. The BoT has maintained since 2019 that the Tanzanian shilling remains the country’s only legal tender.

Why This Matters

For a market that has largely operated without clear rules, a formal framework would be a welcome change.

For exchanges, wallet providers, and other businesses currently operating amid ambiguity, it will provide a clear legal framework. It will also presumably outline a licensing pathway for crypto service providers to formalize operations.

Investors prefer to invest in markets where there is some security. A clear framework will improve investor confidence. It will also address what Tutuba described as mounting complaints from Tanzanians who lost money in poorly understood digital asset schemes.

Clear regulatory guidelines also mean stronger safeguards against money laundering and terrorist-financing risks. Both of which are concerns the BoT has flagged as a driver of the new rules.

Tanzania Joins Africa’s Regulatory Shift

Tanzania’s move fits a broader pattern playing out across the continent. Regulators are increasingly favoring supervision over prohibition as crypto adoption continues to climb.

Nigeria has included digital assets in its securities regime under the Investments and Securities Act 2025. It now requires exchanges and custodians to register with the SEC and meet fit-and-proper standards.

Kenya is running a nationwide consultation on its draft Virtual Asset Service Providers framework, alongside emerging rules for stablecoins.

South Africa already licenses crypto asset service providers and has issued tax guidance for digital asset holders.

Zimbabwe has moved toward mandatory registration for crypto firms. Roughly eight African countries now have some form of crypto-specific regulation in place. Several more, Tanzania included, are actively drafting their own.

What It Could Mean for Tanzania’s Fintech Sector

A clear rulebook wouldn’t guarantee a crypto boom on its own. However, it would give founders, exchanges, and payment companies a legal foundation to build on.

Startups developing crypto products could find it easier to operate openly rather than in a regulatory grey area. At the same time, international exchanges and payment firms may take a closer look at entering a market with defined licensing requirements.

Formal oversight could also help align Tanzania’s approach with the digital payment frameworks taking shape elsewhere in East Africa, an ecosystem where the country already has strong mobile money penetration.

The Bigger Picture

Tanzania hasn’t legalized crypto yet. The BoT has not yet published a draft framework or an implementation timeline.

What’s changed is the direction. Rather than treating digital assets purely as a threat to be warned against, the central bank is now moving to build the rules needed to supervise them.

That puts Tanzania alongside a lengthening list of African markets choosing regulation over outright restriction.