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.
Since Zimbabwe’s central bank banned crypto services in 2018, Bitcoin has continued to rise amid new ban on foreign currencies.
BTC Peer-to-Peer Trading Rises Amid Ban on USD in Zimbabwe: Report
Zimbabwean and South African bitcoin traders are facing a major surcharge on the coin.
No, Bitcoin Isn’t Really Selling for $76,000 in Zimbabwe: Analysts
The decentralized exchange developed by Binance warns that it will block website access from 29 countries.
Binance DEX Website Will Geoblock Users From 29 Countries, Including the US
A Zimbabwe Stock Exchange (ZSE) executive said that blockchain technology is very good, but the exchange needs regulatory clarity.
Zimbabwe Stock Exchange Eyes Blockchain-Based Products, Needs Regulatory Clarity
Mainstream newspaper Time published an article illustrating the liberating potential of Bitcoin, especially in countries with oppressive governments.
Major American Magazine Time Column Reports About Bitcoin’s Liberating Potential
Zimbabwe should adopt a Swiss-style approach to cryptocurrency regulation, its new finance minister has said.
Treat Bitcoin Like Switzerland Does, Zimbabwe Finance Minister Tells Central Bank
Inflation is driving these nations to crypto, but there won’t be hyperbitcoinization as long as reserve currencies remain strong.
Hyperbitcoinization: How Currency Crises Are Driving Nations to Crypto