The Regulatory Position of the Zambian Financial Regulators on Cryptocurrency

The emergence of cryptocurrency has brought about significant changes in the financial industry, raising important questions about the role of financial regulators in its governance. This study aims to examine the regulatory position of the Zambian financial regulators on cryptocurrency. The research design involves a comprehensive literature review and empirical analysis of the regulatory frameworks governing cryptocurrency in Zambia. The study finds that while the Zambian government recognizes the potential of cryptocurrency, there is still no clear regulatory framework governing its use in the country. This has resulted in a lack of investor protection and increased risk of fraudulent activities. The study recommends that the Zambian government adopts a clear regulatory framework that will address these issues and provide guidance on the use and regulation of cryptocurrency. The study contributes to the existing body of knowledge on cryptocurrency regulation in Africa and highlights the need for effective and efficient regulation to ensure the sustainable development of the financial sector. The findings of this study have implications for policy and practice, and suggest future research on the impact of cryptocurrency on financial inclusion in Zambia.