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.
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