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[Featured] Zimbabwe Considering Cryptocurrencies As Payment Method

November 8, 2021

On November 7th, the government of Zimbabwe is considering the use of cryptocurrency as a legal payment method in order to bridge the gap in cross-border payment capabilities between African countries and other countries. According to sources, a civil servant said: “Initially we tried to understand the meaning of cryptocurrencies because they are fundamentally different from previously known financial instruments, and people are concerned about the cross-border flow of funds, money laundering, externalization of funds, and inflow of funds illegally.” He also mentioned that the country is still far from making any major statements because they are still in the negotiation stage. However, according to the country’s Finance Minister Mthuli Ncube, they may not provide cryptocurrency with the currency status.

 

Disclaimer: As a blockchain information platform, the information provided on this site does not represent any investment recommendation. The articles published on this site only represent personal opinions and have nothing to do with the Official Position of GHDIB. Virtual currency does not have the legal status equivalent to legal currency, and there are legal risks involved in virtual currency investment transactions. GHDIB opposes all kinds of token speculations and invites investors to view market risks in a rational manner.

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