RBZ Bans Buying And Selling Bitcoin

In a circular released on Friday, Reserve Bank of Zimbabwe (RBZ) registrar of banking institutions, Norman Mataruka ordered has all financial institutions in the country to immediately stop trading or transacting in cryptocurrencies. He gave the financial institutions 60 days to liquidate and refund existing account balances.

In a separate statement, RBZ governor John Mangudya said they have not licensed any person or company to buy and/or sell cryptocurrency. Said Mangudya:

The Reserve Bank of Zimbabwe has not authorised or licensed any person or entity or exchange for the issuance, sale, purchase, exchange or investment in any virtual currencies/coins/tokens in Zimbabwe. Exchanges such as Bitfinance (Private) Limited (Golix) and Styx24 are not licensed or regulated by the Reserve Bank.

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