Tunisian Finance Minister to Decriminalize Bitcoin Purchases

Tunisian Finance Minister Ali KOOLI said he plans to change the country's cryptocurrency law. The proposed change to the law comes after local media reported that a 17-year-old Tunisian boy was arrested in April for using cryptocurrency for online transactions. The incident sparked outrage in the Tunisian crypto community. Many believe that the reason is the lack of clarity in the regulation of cryptocurrencies in Tunisia.

While regulators across Africa grapple with crypto policy, offering controversial statements and making crackdowns, crypto adoption by African retail users is growing rapidly. According to Paxful CEO Ray YOUSEFF, the African continent is leading the world in global crypto adoption. He also urges the crypto community to look to Africa. However, attempts to introduce crypto-friendly laws in Tunisia are currently stagnant.

Despite the lack of regulatory clarity, the crypto adoption in Tunisia is growing at a record pace. According to a report by the English-language Tunisian edition Carthage, the number of registered users on crypto exchanges in Tunisia grew by 11% in the first quarter of 2021 compared to last year.

Image: Forbes