Finance Minister Mthuli Ncube’s framework requires virtual-asset trading, transfer and custody firms to register each year with the central bank’s Financial Intelligence Unit or face illegality.
Zimbabwe has introduced its first cryptocurrency-specific regulatory framework, requiring businesses involved in virtual-asset trading, transfers or custody to register annually with the central bank’s Financial Intelligence Unit and pay a $500 fee. Finance Minister Mthuli Ncube issued the rules, which make it illegal to operate without registration. The move brings crypto activity under anti-money-laundering oversight, a step regulators typically use to monitor customer flows, improve compliance and formalize a previously less clearly supervised market.