Zimbabwe plans to legalise Crytocurrencies in the country. The eastern african country, has been keeping an eye on the growing demand for cryptocurrency among its citizens, which it sees as a potential source of growth. The country has also shown an interest in regulating the entire industry.
According to local press, Zimbabwe’s government is proposing using Bitcoins as a legal payment method to address this growing demand and exploit the technology.
According to the news, the Permanent Secretary and Head of the Office of the President and Cabinet’s e-government Technology Unit, retired Brigadier Colonel Charles Wekwete, acknowledged that talks with firms are already ongoing.
According to Wekwete, the disadvantages of the decentralized ecosystem include unregistered cross-border transfers, externalization of money, money laundering, and ill-gotten cash flow into subsequent illicit or unlawful actions.
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