Zimbabwe Invites Public Input As It Plans Policy For Cryptocurrency Regulation

The government has set up a committee to consult operators in the virtual-asset ecosystem, and it wants comments by June 26

By Joseph-Albert Kuuire 2 Min Read

Zimbabwe is asking for public input on cryptoasset operations as it works on regulatory policy for the sector.

As part of the assessment process, the government has set up a committee to consult operators in the virtual-asset ecosystem, and it wants comments by June 26.

What They’re Saying

In line with global trends and best practices, Zimbabwe is embarking on an exercise to assess and understand the cryptocurrency landscape,” the government said in a statement published in state-run Herald newspaper Wednesday.

It’s “inviting all cryptocurrency service providers,” whether operating in or outside the country but giving services to customers in the nation, to make comments. 

By The Numbers

Since 1999, the country has been locked out of international capital markets after defaulting on its debts, and it’s trying to reorganize about $19.2 billion owed to creditors, including $13 billion to international investors. 

Zoom Out

The southern African nation last year issued a gold-backed virtual token as part of efforts to end decades of financial chaos.

In April, Zimbabwe launched a new currency known as ZiG — short for Zimbabwe Gold — in its sixth attempt to have a functioning local unit in 15 years.

Source: Bloomberg


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Joseph-Albert Kuuire is the creator, editor, and journalist at Tech Labari. Email: joseph@techlabari.com Twitter: @jakuuire
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