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Zimbabwe introduces first crypto registration system, requiring firms to register with financial intelligence unit

Zimbabwe introduces first crypto registration system, requiring firms to register with financial intelligence unit

A ministerial order signed on June 12 requires digital-asset trading, transfer, custody and brokerage firms to register with the Financial Intelligence Unit and pay set fees or face criminal penalties.

Fact Check
The Reuters primary report confirms Zimbabwe issued regulations requiring crypto businesses to register annually with the Financial Intelligence Unit, the AML body housed within the Reserve Bank of Zimbabwe, formalizing oversight of the sector. The Block (which cited Reuters) and crypto.news independently corroborate, identifying Statutory Instrument 99 of 2026 signed by Finance Minister Mthuli Ncube. The claim accurately reflects these reports.
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Summary

Zimbabwe has introduced its first registration system for crypto businesses, requiring companies involved in digital-asset trading, transfers, custody and brokerage to register with the Financial Intelligence Unit. Finance Minister Mthuli Ncube signed the ministerial order on June 12, Reuters reported. The regime sets a $500 registration fee and a $400 annual renewal fee, while businesses that operate without registering face criminal penalties. The move formalizes oversight of the sector and clarifies that the registration framework is being handled by the Financial Intelligence Unit rather than the central bank.

Terms & Concepts
  • custody: The safekeeping of clients' digital assets by a service provider.
  • brokerage: A service that arranges or executes trades for customers.
  • Financial Intelligence Unit: A government body that monitors financial activity and helps enforce anti-money laundering rules.