Zimbabwe enacted Statutory Instrument 99 of 2026 on June 12, requiring all virtual asset service providers operating in the country to register with the Reserve Bank of Zimbabwe’s Financial Intelligence Unit. This marks a shift from the country’s eight-year-old crypto ban to formal regulation.

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Eight years ago, the Reserve Bank of Zimbabwe prohibited domestic banks from handling cryptocurrency. The new regulation requires all crypto firms to complete registration and submit to anti-money laundering and counter-terrorism financing reviews. This aligns with a broader African trend toward crypto regulation, with Nigeria and Kenya also advancing similar frameworks.

Industry analysts note that Zimbabwe’s high inflation environment has driven widespread crypto adoption among civilians. Formal regulation could help protect investors and bring crypto transactions into the tax system.

Editor: GoodInfo Global News Team