ZIMBABWE The Zimbabwe Reserve Bank will settle cryptocurrencies after a 20-month ban 3 years ago Iwo Bulski Post Views: 646 The Reserve Bank of Zimbabwe announced to regulate cryptocurrency in the country after it announced a banking ban in May 2018. The Reserve Bank of Zimbabwe had prohibited banks from processing crypto payments back in 2018, but the central bank is now preparing to implement new crypto regulations in the country. According to local reports, the central bank has already started drafting a policy framework to guide operations of crypto firms in the country. Regulators will assess how crypto companies will operate. Josephat Mutepfa, deputy director of financial markets and national payment systems at the Reserve Bank of Zimbabwe, noted that the country has already started to come up with a fintech framework because, in regulation, everything should be structured. He added that the framework, which is a regulatory sandbox, will be assessing the crypto companies as to how they will operate. While speaking at the Sound Prosperity Economic Forum in the Bulawayo city on Friday, Mutepfa informed that once a company enters the sandbox, it exists as a bonafide product to enter the market, or it is asked to partner with a bank, or a mobile money platform. Zimbabwe is facing a humanitarian and economic crisis. In February, the International Monetary Fund reported that the African country, Zimbabwe is facing an economic and humanitarian crisis as the country continues to battle inflation and food shortages. The country witnessed one of the worst hyperinflation in the world in 2008, and it still has not recovered. Allowing cryptocurrency in the country could help people avoid national currency and use bitcoin and other digital currencies to fight hyperinflation. Source: coinnounce.com About Post Author Iwo Bulski Issues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. See author's posts Iwo BulskiIssues related to the gambling business is engaged in more than 30 years. My empirical experience gives me the opportunity to present events and companies from this business with full knowledge and industry knowledge. Facebook Twitter LinkedIn Email Print Tags: bitcoin, cryptocuriencies, Zimbabwe Continue Reading Previous Sign of good things ahead – Zimbabwe gambling business 2020Next Zimbabwe – Fans comment on sport ban More Stories CASINO ZIMBABWE Zimbabwe: Man killed at a gambling table 1 week ago Samuel EXPERTS ZIMBABWE Goverment deploys technology to monitor gaming activities 2 weeks ago Samuel ONLINE ZIMBABWE Zimbabwe in race to introduce digital currency 4 weeks ago Samuel ONLINE ZIMBABWE How Zimbabwe Regulates Online Gambling 4 weeks ago Szarlot BETTING ZIMBABWE Zimbabwe supporter banned over R127 000 spot-fixing attempt 1 month ago Szarlot BILLIARD ZIMBABWE Zimbabweans Betting on Pool Games to Make a Living 3 months ago Samuel ONLINE ZIMBABWE How To Block Gambling Sites Without GamStop In Zimbabwe? 3 months ago Samuel BETTING ZIMBABWE Africa Confronts Rise in Sports Betting – VOA Zimbabwe 3 months ago Samuel BETTING ZIMBABWE Chinese smartphones and WhatsApp enable offshore betting 3 months ago Szarlot EXPERTS ZIMBABWE African telcos target minors with new mobile money solutions 4 months ago Szarlot ONLINE ZIMBABWE How to Choose a New Online Casino for African Players 12 months ago Samuel ONLINE ZIMBABWE Zimbabwe outlook towards bitcoin in overcoming economic crisis 1 year ago Szarlot Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Website Save my name, email, and website in this browser for the next time I comment. Δ This site uses Akismet to reduce spam. Learn how your comment data is processed.