Since Zimbabwe’s central bank banned crypto services in 2018, Bitcoin has continued to rise amid new ban on foreign currencies.
The Republic of Zimbabwe is a South African country with a population of 16 million people. Zimbabwe suffers from racial and ethnic conflicts, dictatorship and poor education. The Zimbabwean economy provides a very low gross domestic product per capita and has one of the highest Gini coefficients in the world. Zimbabwean latest news has to do with the house arrest of Robert Mugabe – Prime Minister of Zimbabwe since 1980. The Zimbabwean economy is built on exports of minerals, gold and agricultural products, such as tobacco and cotton. Zimbabwe is poorly developed in technology and has issued no laws about cryptocurrency and blockchain. Bitcoin is legal in Zimbabwe but has no official permission for use. Zimbabwean authorities are skeptical about Bitcoin and may change the legal framework for it. However, the difficult political and economic situation keeps Zimbabwe’s government concentrated on other problems.
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