The Zimbabwe Securities and Exchange Commission (SECZ) and the Reserve Bank of Zimbabwe (RBZ) are working on a framework for virtual asset trading. The framework aims to provide clear legislation, customer protection under the Data Protection Act and educational support. Challenges faced include infrastructure investment and licensing fees for foreign-provided systems. Informal virtual asset ecosystems already exist but lack security, leading to losses.
Chengetedzai Deposit Corporation (CDC) said it supports legalizing virtual asset trading through regulation, noting that other countries have already done so. The digital asset industry is expected to grow significantly, providing Zimbabwe with a new asset class.
Zimbabwean regulators develop virtual asset trading framework
2024-06-18 04:20:47
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