Bitcoin trading has been banned in Zimbabwe by the Reserve Bank of Zimbabwe. RBZ registrar of banking institutions, Norman Mataruka sai...
Bitcoin trading has been banned in Zimbabwe by the Reserve
Bank of Zimbabwe.
RBZ registrar of banking institutions, Norman Mataruka said
financial institutions should exit any existing relationships with virtual
currency exchanges within 60 days and proceed to liquidate and restitute
existing account balances.
He said that accepting cryptocurrencies as collateral,
opening accounts of exchanges dealing with them and transfer/receipt of money
in accounts relating to purchase/sale of virtual currencies was also
prohibited.
“As monetary authorities, the Reserve Bank of Zimbabwe is
the custodian of public trust and has an obligation to safeguard the integrity
of payment systems.
Central bank governor John Mangudya warned the public
against trading in cryptocurrencies.
“Any person who buys, sells, or otherwise transacts in
cryptocurrencies, whether online, or otherwise, does so at their own risk and
will have no recourse to the Reserve Bank or to any regulatory authority in the
country,” he said.
“The Reserve Bank of Zimbabwe has not authorised or
licensed any person or entity or exchange for the issuance, sale, purchase,
exchange or investment in any virtual currencies/coins/tokens in Zimbabwe.
Exchanges such as Bitfinance (Private) Limited (Golix) and Styx24 are not
licensed or regulated by the Reserve Bank.”
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