The Central Bank of Zimbabwe (RBZ) has banned all financial institutions to Transact with cryptocurrencies. It is reported by local media NewsDay.
According to the report, the Director of the Bank and the Registrar of banking institutions Norman Mataruka said that all financial institutions in Zimbabwe should cease all relations with cryptocurrency exchanges. On the execution of the order Norman Mataruka allocated 60 days. During this period, should be eliminated all accounts associated with cryptocurrency. According to the head of the Bank, this is done to protect the population, to ensure the integrity and reliability of the financial system.
RBZ Governor John Mangudya warned in a separate statement that persons involved in cryptocurrency in the country doing this “at your own risk”:
“Any person who buys, sells or otherwise makes transactions in crypto-currencies, whether online or otherwise, does so at his own risk and operations will not be supported by the reserve Bank or other regulatory authority in the country.”
In November 2017, it was reported that the Central Bank of Zimbabwe considers the use of cryptocurrencies, such as bitcoin (BTC) is illegal, as long as the financial authorities will develop a regulatory framework for them.