Zimbabwe has noticed the mounting demand for crypto amongst its people, which it considers a viable opportunity for growth. The nation has been receptive to regulating the whole sector.
According to local news, Zimbabwe’s government is examining Bitcoin (BTC) as a lawful payment option to satisfy this growing need.
Retired Brigadier Colonel Charles Wekwete, the secretary of state and e-government innovation unit, validated that conversations with services are currently underway.
He mentioned that the authorities are trying to create policies to protect consumers and aid the nation’s financial future. Consequently, before making any policy changes, the government looks for input from various sectors.
According to Wekwete, Zimbabwe has not yet made any big declarations adding that the country is still in an inquiry stage.
Other countries are embracing El Salvador’s policy of Bitcoin use and regulation. Regardless of criticism from people throughout the globe, El Salvador’s government remained optimistic in its support for Bitcoin legislation.
Africa is a great testing ground for cryptocurrency. Numerous businesses are producing goods and services adapted to various African countries, specifically to solve problems between African countries and other nations in terms of cross-border payments.
As reported by Cointelegraph, between July 2020 and June 2021, Africa’s cryptocurrency market exploded by 1,200%. High infiltration was seen in South Africa, Kenya, Nigeria, and Tanzania.
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