During the sidelines of the Financial Services Lawyers Conference, RBM General Council and Bank Secretary, George Chioza, said that Malawi is yet to decide on use of the digital currency.

Last year in November, during the opening of the Monetary Policy Conference, the (former) 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. In June that 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.   

 “We have not said yes or no but we know there are cryptocurrencies. Take caution when you are dealing in those currencies,” Chioza said.