Zimbabwe is actively pursuing the regulation of cryptocurrencies by forming a government committee to gather data from crypto companies, with feedback due by June 26.
The primary aim is to understand the local virtual assets ecosystem and mitigate risks such as money laundering and terrorist funding, according to Nick Mangwana, Permanent Secretary for Information and Publicity.
The country seeks to balance innovation with financial stability through a tailored regulatory framework.
Despite IMF concerns, Zimbabwe launched a gold-backed digital currency (ZiG) in May last year, which is now used for payments.
The nation continues to grapple with currency instability, oscillating between the US dollar and the Zimbabwean dollar to curb inflation.