Zimbabwe seeks public consultation to develop crypto regulations

Zimbabwean government has launched a comprehensive initiative to assess the country's cryptocurrency landscape and develop a regulatory framework tailored to its specific needs.

The government is reaching out to both domestic and international cryptocurrency service providers, as well as the general public, to gather comprehensive insights. The focus is on developing a regulatory framework that promotes innovation while ensuring security and compliance.

According to Nick Mangwana, the Permanent Secretary for Information and Publicity, the primary objective of this exercise is to gain a thorough understanding of the virtual assets ecosystem within Zimbabwe. This involves mapping out the various actors, activities, and the scope and scale of the cryptocurrency space in the country. 

The government also seeks to evaluate the potential risks associated with cryptocurrencies, such as their misuse for money laundering, terrorism financing, and other illicit activities.

National Risk Assessment Coordination Committee has been established to facilitate this dialogue. This committee has been mandated to engage with stakeholders in the cryptocurrency sector to comprehensively evaluate Zimbabwe's cryptocurrency landscape with a deadline for submissions set for June 26, highlighting the urgency and importance of this endeavor.