Zimbabwe mandates crypto firm registration with central bank

Zimbabwe is taking steps to regulate its cryptocurrency sector by requiring all firms to register with the Reserve Bank of Zimbabwe. This new regulation mandates an initial registration fee of $500, followed by an annual renewal fee of $400. Operating a crypto business without obtaining the necessary registration is now considered a legal offense. This move signifies the government's intent to establish oversight and control over digital asset activities within the country, aiming to enhance compliance and potentially mitigate risks associated with the burgeoning crypto market.