Tunisia Moves Towards Legalizing Crypto Assets

The Tunisian government approved an amended foreign exchange law last Wednesday, which has been in development over the past two years. The amended law aims to facilitate foreign currency trading in Tunisia, with the goal of revitalizing sectors such as startups and digital commerce.

The law also includes provisions that allow for dealing with crypto assets, according to reports from Asharq Business Crypto and Assabah News, in a move expected to support Tunisia’s already active Web3 scene.

Over the past decade, the Tunisian central bank has exercised a high degree of control over hard currency liquidity, in a step to protect the Tunisian dinar’s exchange rate. Under the old law, companies had to apply to the central bank for hard currency allocations to use in trade, along with restrictions on remittances abroad and opening foreign currency accounts.

Tunisia is one of the Arab countries that has focused its adoption of blockchain technology on development and programming rather than investment and speculation. The Web3 scene in Tunisia is led by the Dar Blockchain initiative, which recently partnered with the Hashgraph Association, responsible for developing the Hedera blockchain, to organize a series of hackathons in Tunisia and North Africa.

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