The Reserve Bank of Malawi (RBM) has announced that on November 18, a broader discussion of cryptocurrency will be held in Mangochi.  

In a statement by the central bank, the meeting, which is the second monetary policy conference will be held under the theme ‘Cryptocurrency and Monetary Policy in Malawi’. The statement partly reads “The conference aims at providing a platform for stakeholders to engage and discuss the evolution of financial technology with a focus on block chain technology, cryptocurrencies, Central Bank digital currencies and their likely implications on monetary policy and financial stability.

Earlier in May this year, the central bank released a statement that was discouraging the use of cryptocurrencies in Malawi, but a month later the bank placed a call for a research proposal on the digital currencies. In an advertisement placed in the newspapers, 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, the research would include detailed data on the researched topic.

Fast forward, the central bank will discuss what was researched, weighing the pros and cons of cryptocurrency in Malawi and perhaps legalizing them.