The Financial Intelligence Unit (FIU) of the Zimbabwean central bank has mandated that all virtual asset service providers (VASPs) formally register with the regulatory body. New Legal Definitions The Reserve Bank of Zimbabwe’s Financial Intelligence Unit has issued a public mandate requiring all virtual asset service providers to formally register with the regulatory body. The […]
]]>Zimbabwe has formalized and legalized its cryptocurrency sector under Statutory Instrument 99 of 2026. Global Compliance Pressure The Zimbabwean government has formalized the country’s cryptocurrency sector under a new regulatory framework aimed at curbing money laundering and bringing the digital asset business out of the shadow economy. The newly gazetted legislation, published as Statutory Instrument […]
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Zimbabwe has launched a blockchain-enabled carbon credit registry to enhance transparency and restore investor trust after previous disruptions in the carbon credit market. In 2023, the country faced backlash for abruptly canceling projects and claiming a portion of proceeds, affecting developers like the Kariba Redd+ Project. Authorities have since established the Zimbabwe Carbon Markets Authority […]
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Zimbabwe’s Finance Minister Mthuli Ncube stated that the country must regain access to credit lines before adopting the Zig as its sole currency. He emphasized the need to restructure $21 billion in debt, as Zimbabwe has been locked out of capital markets since 1999 due to defaulting on its debt. Clearing arrears would enable access […]
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A Zimbabwean professor has highlighted the BRICS New Development Bank (NDB) as a crucial alternative to the International Monetary Fund (IMF), offering better financial terms to developing nations. He emphasized the NDB’s role in helping countries like Zimbabwe escape debt cycles and discussed the introduction of Zimbabwe Gold (ZiG), a currency backed by mineral wealth, […]
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The Reserve Bank of Zimbabwe (RBZ) has denied claims that it intends to force recipients of U.S. dollar-denominated remittances to convert their funds into local currency. The central bank clarified that it has no plans to review its diaspora remittances policy. According to the RBZ, the market had misconstrued a video on social media in […]
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The Zimbabwean government has formed a multi-stakeholder committee, tasked with consulting stakeholders in the cryptocurrency ecosystem. This committee, known as the National Risk Assessment Coordination Committee (NRACC), aims to determine the nature and extent of the cryptocurrency ecosystem in Zimbabwe. It will also evaluate the risks associated with cryptocurrencies, such as their potential misuse for […]
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The country has struggled with an unstable currency for years, but now it will have one backed by reserves three times larger than its issuance.
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The Reserve Bank of Zimbabwe first introduced its new project, in which every issued digital token would be backed by a physical amount of gold held in the bank’s reserves, in April 2023.
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Physical and digital gold tokens have been a big success as investments and an inflation hedge in Zimbabwe, which continues to face triple-digit inflation.
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