{"id":15728,"date":"2024-06-13T15:50:19","date_gmt":"2024-06-13T12:50:19","guid":{"rendered":"https:\/\/igamingafrika.com\/?p=15728"},"modified":"2024-06-13T15:50:19","modified_gmt":"2024-06-13T12:50:19","slug":"steps-to-evaluate-local-crypto-sector-and-introduce-a-regulatory-framework-all-set-in-zimbabwe","status":"publish","type":"post","link":"https:\/\/igamingeuropa.com\/index.php\/2024\/06\/13\/steps-to-evaluate-local-crypto-sector-and-introduce-a-regulatory-framework-all-set-in-zimbabwe\/","title":{"rendered":"Steps to Evaluate Local Crypto Sector And Introduce a Regulatory Framework, All Set in Zimbabwe!"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong><a href=\"https:\/\/en.wikipedia.org\/wiki\/Zimbabwe\" target=\"_blank\" rel=\"noreferrer noopener\">Zimbabwe<\/a> is seeking to follow the lead of South Africa by introducing a regulated legal mandate for virtual assets and cryptocurrencies. <\/strong><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">Zimbabwe Crypto<\/mark><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Zimbabwe&#8217;s case, the Information and Publicity Permanent Secretary notes that the announced exercise will guide the creation of a regulatory framework customized to Zimbabwe&#8217;s unique needs and circumstances.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to local reports, the Zimbabwean government has announced a comprehensive initiative to evaluate the country\u2019s cryptocurrency sector.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cThe purpose of this exercise is multi-faceted,\u201d<\/em>\u00a0said <strong>Nick Mangwana<\/strong> the Information and Publicity Permanent Secretary. &#8220;<em>Firstly, we aim to determine the nature and extent of the cryptocurrency ecosystem in Zimbabwe. This involves mapping out the various actors and activities within the space to get a clearer picture of its scope and scale.\u201d<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read Also: <a href=\"https:\/\/igamingafrika.com\/opera-ordered-to-unblock-betting-firm-odibets-on-its-website\/\" target=\"_blank\" rel=\"noreferrer noopener\">Opera Ordered to Unblock Betting Firm Odibets on its Website!<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The government also aims to evaluate and comprehend the potential risks linked to cryptocurrencies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cOur objective is to evaluate the dangers of cryptocurrencies being misused for money laundering, terrorism financing, and other illicit activities. Given the anonymity and decentralization that characterize these digital assets, it is crucial to identify and mitigate any associated risks,\u201d<\/em>&nbsp;<strong>Mangwana<\/strong> explained.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, Zimbabwe is seeking to follow the lead of South Africa by introducing a regulated legal mandate for virtual assets and cryptocurrencies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In 2022, in a first for Africa, South Africa\u2019s Financial Sector Conduct Authority (FSCA)\u00a0classified crypto assets as financial products requiring regulatory oversight. According to the authority, this aims to protect consumers from the inherent risks associated with the crypto market, such as fraud and money laundering. <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">Zimbabwe Crypto<\/mark><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In Zimbabwe\u2019s case, the official notes that the announced exercise will guide the creation of a regulatory framework customized to Zimbabwe\u2019s unique needs and circumstances.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cWe intend to recommend an appropriate regulatory framework for cryptocurrency and cryptocurrency service providers,\u201d<\/em>&nbsp;<strong>Mangwana<\/strong> added. &#8220;<em>This framework will aim to strike a balance between fostering innovation and ensuring the security and integrity of our financial system.\u201d<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Zimbabwe is seeking to follow the lead of South Africa by introducing a regulated legal mandate for virtual assets and cryptocurrencies. Zimbabwe Crypto In Zimbabwe&#8217;s case, the Information and Publicity Permanent Secretary notes that the announced exercise will guide the creation of a regulatory framework customized to Zimbabwe&#8217;s unique needs and circumstances. According to local &hellip;<\/p>\n","protected":false},"author":3,"featured_media":20641,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[61,25],"tags":[143,706,241,707],"class_list":["post-15728","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news-europe","category-news","tag-crypto-2","tag-crypto-currencies","tag-regulations-2","tag-zimbabwe"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Steps to Evaluate Local Crypto Sector And Introduce a Regulatory Framework All Set in Zimbabwe!<\/title>\n<meta name=\"description\" content=\"Zimbabwe is seeking to follow the lead of South Africa by introducing a regulated legal mandate for virtual assets and crypto.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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