In a recent update, Zambia's Science and Technology minister, Mr Felix Mutati, told Reuters that its Central Bank is conducting tests simulating real-world cryptocurrency use. The tests, scheduled to be completed by June, will help inform and guide the regulations. The Minister also acknowledged that the country needs proper digital infrastructure, including digital identities, before introducing cryptocurrency. Mutati emphasized that the main aim is to enhance the digital payment ecosystem by fostering innovation while simultaneously preserving citizens' safety.

Earlier this year, Zambia announced it would soon introduce cryptocurrency regulation regulating crypto assets, specifically targeting Central Bank Digital Currency (CBDC).

Worldwide, there is a renewed emphasis on regulating cryptocurrencies, especially with the dip in the prices of digital currencies following the collapse of the FTX exchange.