Regulation
Zimbabwe invites public participation in planning its cryptocurrency regulatory policy
Zimbabwe seeks public input on crypto-asset trading as it works on regulatory policy for the sector.
As part of the evaluation process, the government has established a committee to consult with operators in the virtual asset ecosystem and is seeking feedback. before June 26.
What they say
“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 the official Herald newspaper on Wednesday.
It “invites all cryptocurrency service providers,” whether they operate inside or outside the country but provide services to customers in the country, to comment.
In numbers
The country has been locked out of international capital markets since 1999 after defaulting on its debts, and it is 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 virtual gold-backed 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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