Crypto-Technicals: ETH/USD Stalls On Hanging Man, Bulls Eyeing On Breakout Of 100-EMAs, Hedging Perspectives For Upside Risks 
Cryptocurrency Derivatives Series: Bitcoin Flirts With Technical Supports & Drifts In Sideways, Uphold Long Hedges 
Cryptocurrency Derivatives Series: Snippets of Bitcoin Technical And Derivatives 
Digital Currency Series: Ethereum Halts Bullish Rout, What Drives Commendable Rallies? Quick Glimpse At Bullish Driving Forces 
Cryptocurrency Derivatives Series: Bitcoin Slides Paving Way For Fresh Bulls – Uphold Long Hedges 
Digital Currency Revolution Series: Ethereum Bulls Halt At $250 But All Set To Take-Off, What Drives Further Upside Journey? 
Three ways blockchain could get the world to act against the climate crisis 
- News
- Economy
- Central Banks
- Investing
- Research
- Roundups
- Digital Currency
- Insights
- Technical Analysis
- Technology
- Business
- Law
- Health
- Nature
- Fintech
- Science
- Topic
- Opinions
- EconoTimes PRO
- ©Elmin Media . All Rights Reserved.
Reserve Bank Zimbabwe says bitcoin is illegal
The Reserve Bank Zimbabwe (RBZ) has said that bitcoin is illegal in the country and has warned people against using the digital currency, according to Techzim.
Norman Mataruka, RBZ director and registrar of banking institutions, recently said:
“In terms of the Bitcoin, as far as we are concerned, it not actually legal. In Southern Africa, what we have done as regulators, we have said that we will not allow this in our markets.
“Research is currently being undertaken to ascertain the challenges and risks associated with these particular products and until we have actually established and come up with a legal and regulatory framework for them, it will not be allowed.”
The comments come at a time when bitcoin is being touted as Zimbabwe’s crisis currency. Bitcoin price on Golix, Zimbabwe-based bitcoin exchange, is over $14,000, as compared to global levels of around $8,100, at the time of writing.
The country has been facing financial crisis for years now. The hyperinflation situation in 2008 and 2009 and subsequent abandoning of the Zimbabwean dollar in 2009, drove people towards other avenues to safeguard their savings. Bitcoin, which emerged around this time, appeared to be one such attractive avenue for the people.
Editor's Picks
- Market Data
