Deep Tide TechFlow news, on December 23, according to Cointelegraph, the Bank of Botswana released the "Financial Stability Report" pointing out that due to the immature development of the local cryptocurrency market, the current risk to financial stability is "limited". However, the central bank emphasizes the need to establish a regulatory framework to prevent potential risks in the future, and lists the use of digital payment tools for money laundering and terrorist financing as one of the five major national security risks.
The report shows that although the increasing interconnection between the cryptocurrency market and the traditional financial system may pose systemic risks, the current risks are controllable due to the relatively simple local virtual asset market in Botswana. The central bank calls for cryptocurrency service providers to comply with regulatory requirements such as Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT), and suggests combating illegal activities through market monitoring and law enforcement cooperation.