Reserve Bank of Zimbabwe to Implement New Crypto Regulations in the Country
On the 16th of March 2020, the Reserve Bank of Zimbabwe (RBZ) announced its plan to implement new crypto regulations. The news comes after the central bank banned banks from processing crypto payments back in 2018.
The local news report stated that the RBZ is already drafting a policy framework to guide crypto-related firms’ operations in Zimbabwe.
Zimbabwe Central Bank’s Deputy Director on Crypto Regulation
The deputy director of financial markets and national payment system at Zimbabwe’s central bank, Josephat Mutepfa, spoke on crypto regulation on Friday. Mutepfa spoke in Bulawayo during a Sound Prosperity Economic Forum and pointed out that Zimbabwe is structuring a fintech framework.
Mutepfa also added that the regulatory sandbox, the framework, will assess how the crypto startups in the country operate. He said that the sandbox would be an experimenting zone, and once it gets launched, there will be an application criterion, acting in the same capacity as the sandbox.