Tunisia is moving towards legalizing digital assets

Last Wednesday, the Tunisian government approved a revised foreign exchange law, a law that has been under development for the past two years. The amended law aims to facilitate foreign exchange trading in Tunisia with the aim of revitalizing sectors such as startups and digital commerce.

The law also includes provisions allowing the handling of digital assets, according to reports from Eqtisad Al-Sharq and Al-Sabah News, in a move expected to support the already active Web3 technology scene in Tunisia.

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

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 Tunisian Web3 technology scene is led by the Blockchain House initiative, which recently collaborated with the Hashgraph Association, responsible for the development of the Hedera blockchain, to organize a series of competitions in Tunisia and North Africa.