Zimbabwe seeks input from crypto firms on its virtual asset regulation guidelines.

Zimbabwe seeks input from crypto firms on its virtual asset regulation guidelines.
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    Last updated on July 2nd, 2024 at 06:11 pm

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    Zimbabwe is looking to develop robust regulation guidelines for virtual assets and is looking for inputs from crypto businesses.

    The Zimbabwean government is currently developing regulations for its cryptocurrency industry. The government seeks input from digital assets service providers both within Zimbabwe and internationally.

    According to a report published in The Zimbabwe Mail, the government has established a committee to gather information from crypto businesses offering services in Zimbabwe. 

    Read Also: Zimbabwe central bank faces new difficulties with the new currency.

    The government has set a June 26 deadline for comments. Nick Mangwana, the Permanent Secretary for Information and Publicity, stated that the initiative aims to gain a comprehensive understanding of Zimbabwe’s virtual assets ecosystem.

    Mangwana said they aim to evaluate the dangers of cryptocurrencies being “misused for money laundering, terrorism financing, and other illicit activities.”

    What You Should Know: Zimbabwe is looking to develop  robust regulation guidelines for virtual assets and is looking for inputs from crypto businesses. Also, Zimbabwe is facing financial difficulties with the adoption of its new ZIG currency. 

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