Botswana Central Bank: The local cryptocurrency market has not yet matured, but needs to be strengthened

Odaily Odaily News: The Central Bank of Botswana said that the country's local cryptocurrency market has not yet matured and therefore poses "minimal" risks to financial stability. However, the central bank said that relevant regulations should be formulated to guard against possible digital asset risks in the future. In its Financial Stability Report, the central bank pointed out that the increasingly close connection between the cryptocurrency market and other parts of the financial system may pose potential systemic risks. Despite this, the central bank said that cryptocurrencies pose minimal risks to the domestic market. However, the central bank stressed that regulators should develop a regulatory framework for the industry to deal with possible risks in the future. (Cointelegraph)