Bank of Zimbabwe bans financial institutions using Bitcoin

posted about 1 year ago
The Reserve Bank of Zimbabwe has ordered all financial institutions in the country to immediately stop trading or transacting in cryptocurrencies.

The central bank said financial institutions should exit any existing relationships with virtual currency exchanges within 60 days and proceed to liquidate and restitute existing account balances.

RBZ registrar of banking institutions, Norman Mataruka, said “As monetary authorities, the Reserve Bank of Zimbabwe is the custodian of public trust and has an obligation to safeguard the integrity of payment systems... the Reserve Bank will continue to closely monitor regional and global cryptocurrency developments in order to inform policy direction.”
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