Cryptocurrency Derivatives Series: Brazil’s SEC CVM Orders Cryptocurrency-Exchange Binance To Stop Futures Trading
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
Digital Currency Series: Ethereum Halts Bullish Rout, What Drives Commendable Rallies? Quick Glimpse At Bullish Driving Forces
Digital Currency Revolution Series: Ethereum Bulls Halt At $250 But All Set To Take-Off, What Drives Further Upside Journey?
Digital Currency Revolution Series: Bakkt And Galaxy Digital Collaboration For Bitcoin Trading & Custody Services For Institutions
Digital Currency Revolution Series: Travala.com Partners With Expedia Group For Cryptocurrency-Based Travel Booking
Regulatory Series on Cryptocurrencies: US SEC Hammers Lobbyist CEO of AML Bitcoin With Fraudulent ICO Project
Regulatory Series On Cryptocurrencies: US-SEC’s Finhub To Organize Virtual Meet-Ups Amid Pandemic Covid-19
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.