Although cryptocurrencies do not have the status of legal cash in Namibia, the country’s central bank, the Bank of Namibia (BON), has announced that it has now included “virtual assets (VA) and virtual assets service providers (VASP) under its Fintech Innovations Regulatory Framework in a phased approach, through its innovation hub.”
The BON also highlighted in a statement issues towards the end of September that, although digital currencies such as Bitcoin (BTC) are still not legally recognized, retailers and dealers may take money in this form if they are “willing to participate in such an exchange or trade.”
Notably, the central bank said that it is contemplating making changes to “applicable laws and regulations diligently in consultation with other relevant authorities.”
The bank’s new stance on digital currencies seems to indicate that the BON is warming up to cryptocurrencies. The central bank has previously said
