Central Bank of Kenya Governor: Central Bank Doesn’t Fear Crypto

The Central Bank of Kenya (CBK) has officially stated that it is not opposed to the use of cryptocurrencies and blockchain technology, but rather tries to understand how these technologies can be used in the economy of the country. country.

Governor Patrick Njoroge told Business Daily that CBK should be seen as an innovator and not a regulator.

He added that he is not worried about cryptocurrencies and blockchain technology as they are still in the early stages of development and so there will be challenges as well as opportunities for adoption.

Governor Philip Mangi told reporters at a banking conference in Nairobi that we are not afraid of him at all. We are open to any innovation that can help us improve customer service. We will do our own research and come up with our own strategy on how we should use this technology.

Mangi added that while CBK has no specific policies for cryptocurrencies, CBK would not hesitate to try them out if they could help the financial system improve efficiency and reduce costs.