Zimbabwe has initiated assessment of its cryptocurrency landscape to understand its nature, rísks of misuse, and develop a regulatory framework for crypto services.

According to a government notice, the move is in line with global trends and best practices, therefore Zimbabwe is embarking on an exercise to assess and understand the crypto-currency (also referred to as virtual assets) landscape in Zimbabwe.

The purpose of the exercise is to, among other things: determine the nature and extent of the crypto-currency ecosystem in Zimbabwe; assess and understand the risks of cryptocurrencies being misused for money laundering, terrorism financing and other illicit purposes.

The other aim is to recommend an appropriate regulatory framework for crypto-currency and crypto-currency service providers.