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Zimbabwe launches study to map and regulate crypto industry

admin — Wed, 12 Jun 2024 17:23:32 +0000

The Zimbabwean government has initiated a study to develop regulations for the virtual asset industry.

On June 12, the Zimbabwe Mail reported that the government had established a committee to collect data from crypto companies operating within the country. This study aims to provide a detailed understanding of the country’s crypto industry, including its size and scope.

The committee is inviting contributions from both local and international crypto firms. The submission deadline is June 26.

Study to usher in regulatory clarity for Zimbabwe

Nick Mangwana, Zimbabwe’s Permanent Secretary for Information and Publicity, described the study as a ‘comprehensive project.’ Its goal is to offer an in-depth overview of the country’s crypto sector and serve as a foundation for future regulations.

He stated:

“Firstly, we aim to determine the nature and extent of the cryptocurrency ecosystem in Zimbabwe. This involves mapping out the various actors and activities within the space to get a clearer picture of its scope and scale.”

He also emphasized the importance of assessing digital assets risks, such as money laundering and other illicit activities. Mangwana noted:

“Our objective is to evaluate the dangers of cryptocurrencies being misused for money laundering, terrorism financing, and other illicit activities. Given the anonymity and decentralization that characterize these digital assets, it is crucial to identify and mitigate any associated risks.”

The study is expected to lead to the creation of a comprehensive regulatory framework that will foster innovation and strengthen Zimbabwe’s financial system.

Meanwhile, these efforts reflect how crypto adoption has surged in Africa. Many Africans use crypto to bypass banking and foreign exchange rate restrictions, and governments are starting to recognize the asset benefits for their citizens.

As a result, several African nations, including Kenya, are progressing in developing the crypto industry.

Posted In: Africa, Regulation

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WITHDRAW YOUR CRYPTO!! Cardano ADA Lashes Out On….

Altcoin Buzz — Sun, 09 Jul 2023 19:50:56 +0000

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Daily Crypto News: Bitcoin Bull Run? G20 Summit, MasterCard and Blockchain, Twitter Censorship

EllioTrades — Sat, 10 Jun 2023 23:08:19 +0000

Daily Crypto News: Bitcoin Bull Run? G20 Summit, MasterCard and Blockchain, Twitter Censorship

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Exposed – LEAKED FTX Emails | Be Ready For Massive Crypto Crack Down by SEC | 🤯

Altcoin Buzz — Mon, 20 Mar 2023 16:56:04 +0000

Binance declines the FTX acquisition, Justin Sun of Tron comes in to talks with Sam, and there might be a crackdown coming for crypto from Gary Gensler by the SEC!

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Please do your own due diligence and rating before making any investments and consult your financial advisor.Ibelieve that the information presented is correct and accurate, however, there is no guarantee or warranty as to the accuracy, timeliness, or completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

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crypto regulation Archives - Top Crypto Game

Zimbabwe launches study to map and regulate crypto industry

Study to usher in regulatory clarity for Zimbabwe

Latest Alpha Market Report

WITHDRAW YOUR CRYPTO!! Cardano ADA Lashes Out On….

Daily Crypto News: Bitcoin Bull Run? G20 Summit, MasterCard and Blockchain, Twitter Censorship

Exposed – LEAKED FTX Emails | Be Ready For Massive Crypto Crack Down by SEC | 🤯