In his comments published by The Citizen, Luoga also stated that the BOT, which is now considering the prospect of creating a digital currency, is open to any suggestions on how to govern cryptocurrencies.

"We can't criminalise something we don't understand, and we can't govern a game we don't understand how to play." We are not yet in a position to costerise [sic] cryptos, but we welcome proposals from anyone willing to participate. Luoga is quoted as saying, "Everyone should feel free to propose their thoughts for a review."

Related post: Tanzania CB preparing for CBDC to ensure the country is on par with the global competition

Luoga seems to be reaffirming a prior vow to heed President Samia Suluhu Hasan's request for the country's finance officials to prepare for crypto by seeking the opinions of interested parties. Following the president's appeal, the Tanzanian government announced the formation of a blockchain advisory committee through its ICT ministry, as reported by Bitcoin.com News in July. Later, the central bank committed to responding to the president's request.

Chinese banks 'educate' the general people about the dangers of cryptocurrency

The provincial offices of China's largest commercial banks have "educated" the public on the hazards of crypto and money laundering, but it seems that the word that crypto and mining are "evil" isn't getting through to some government authorities.

After this year's crypto crackdown on crypto transactions by banks and the mining industry, banks have begun posting warnings in their branches and waiting rooms warning people to refrain from cryptocurrency.

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According to FJSen, the Postal Savings Bank of China's Dongshan County (Fujian Province) Branch has started a month-long event. Its staff will go out into the county and warn community members that crypto assets are a crime tool and that making crypto-related investments could put them at risk.

The bank has dubbed its campaign "Prevention of Criminal Activities Using Virtual Currency for Money Laundering," citing the necessity to fulfil its "social duties."

Related post: As China pursues cryptocurrency users, a regional CCP chief has been arrested

Staff members were spotted visiting a bustling market in Xipu to "orientate" market-goers and stallholders on the dangers of cryptocurrency and warn them "not to fall for" crypto-related advertising or the promises of individuals trying to convince them to invest in tokens.

The CEO of Kraken has changed his views about the $100K BTC prediction for 2021: Winter in crypto is now a possibility

While Bitcoin (BTC) continues to trade sideways at $48,000, Kraken CEO Jesse Powell does not rule out a short-term cryptocurrency market crash.

In a Tuesday interview with Bloomberg Technology, Powell noted that crypto winter is now "possible," adding that Bitcoin and the crypto ecosystem have historically evolved around cycles based "kind of around the Bitcoin halving."

Despite the possibility of crypto winter, Powell is optimistic that the market would recover from a bear market once investors begin buying if Bitcoin falls below $40,000:

"I believe a lot of people consider anything under $40,000 to be a good purchase. When we went back near $30,000 a few months ago, I was personally buying, and I believe a lot of folks are just hoping to get back in at rock bottom pricing."

Powell cited some of his past Bitcoin forecasts in the interview, such as his $100,000 Bitcoin prediction for late 2021. "I believe we could see $100,000 plus a coin late this year early next year," the CEO predicted in August. He also forecasted that the value of Bitcoin would reach "infinity" in March.

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In a recent interview, Kraken CEO remarked, "It's impossible to know where it goes." He added that he is still confident in Bitcoin in the long run. "When you look at the long-term trendline of Bitcoin, it's only going up." "If you're considering buying Bitcoin, think of it as a five-year plus investment," I constantly advise people.

Do you think bitcoin will recover from the bear market once it falls below as predicted by Jesse Powell?