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

The central bank of Botswana said that the country's local cryptocurrency market has not yet developed to a mature stage, so the risk to financial stability is "minimal". However, the central bank said that relevant regulations should be formulated to prevent possible digital asset risks in the future. In its Financial Stability Report, the central bank pointed out that the growing connection between the cryptocurrency market and other parts of the financial system may pose potential systemic risks. Despite this, the central bank said that the risks posed by cryptocurrencies to the domestic market are minimal. However, the central bank stressed that regulators should develop a regulatory framework for the industry to address possible risks in the future. (Cointelegraph)