(MENAFN- Trend News Agency) DUSHANBE, Tajikistan, August 6. Tajikistan is currently studying the regulation of cryptocurrency, digital money, and virtual assets, Trend reported, citing the National Bank of Tajikistan (NBT).

The bank says that the somoni is still the only game in town when it comes to legal tender in the country. Nonetheless, acknowledging the accelerated evolution of digital paradigms and sovereign imperatives, regulatory bodies are scrutinizing methodologies to govern exchanges pertaining to cryptocurrencies, digital currencies, and virtual assets.

NBT elucidates that cryptocurrency constitutes a digital asset paradigm, fundamentally anchored in blockchain technology, functioning within decentralized ecosystems devoid of state or central banking oversight. It is devoid of tangible embodiment, unanchored by substantive assets, and encompasses risks including pronounced volatility, regulatory ambiguities, potential utilization in clandestine markets, and susceptibility to fraudulent activities.

Tajikistan's bank notes that digital money issued by central banks exists exclusively in electronic form and serves the same functions as cash and non-cash money. A handful of countries, such as the Bahamas, Jamaica, and Nigeria, have already thrown their hats in the ring with central bank digital currencies, while others like China, India, and Sweden are still testing the waters.

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