Zimbabwe Introduces First Crypto Regulatory Framework With $500 Registration Fee

Zimbabwe has introduced its first regulatory framework for cryptocurrency, requiring all digital asset businesses to register with the Financial Intelligence Unit (FIU), the anti-money laundering body within the Reserve Bank of Zimbabwe. According to Finance Minister Mthuli Ncube, who signed the framework, the initial registration fee is $500, with annual renewals costing $400. Companies dealing in buying, selling, transferring, exchanging, or safeguarding crypto assets must comply or face prosecution. The 2018 banking ban on crypto transactions remains in effect, but the new regulations establish formal oversight of the sector and align Zimbabwe with other African nations introducing crypto licensing regimes.
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