The Reserve Bank of Zimbabwe (RBZ) has warned the transacting public as well as financial institutions against trading in cryptocurrencies or virtual currencies as these pose huge risks due to their anonymous nature.

Further to the press statement issued by the RBZ in December 2017, governor of the apex bank Dr John Mangudya said due to their opacity and pseudonymous nature, the central bank has not authorised or licenced any entity or person or exchange for the issuance, sale, purchase, exchange or investment in any virtual currencies/coins/tokens in Zimbabwe.

Cryptocurrencies such as bitcoin and litecoin have been widely traded especially in the western world with banks and exchanges being set up to trade in them.

In the press statement the central bank cited Bitfinance Private Limited and Styx24 as companies trading in crypotcurrencies in Zimbabwe.

173840cookie-checkZimbabwe’s Central Bank Warns Public Not To Use Bitcoin, CryptoCurrencies