Long

Bitcoin ETF

Donald Trump

Elon Musk

Zimbabwe, being one of the latest players to join the crypto race, is exploring creating comprehensive regulations for digital assets’ operations. Notably, according to reports, the government is urging public input and views as part of the country’s strategy to understand and regulate the crypto sector.
This development, as reported by Bloomberg, indicates Zimbabwe’s latest commitment to integrating with global trends and practices in crypto regulation and governance.
<h2 id="zimbabwe-invites-public-input-to-draft-new-crypto-regulation">Zimbabwe Invites Public Input To Draft New Crypto Regulation</h2>
In a recent report, Bloomberg said that <a rel="noopener noreferrer nofollow" href="https://www.bloomberg.com/news/articles/2024-06-12/zimbabwe-seeks-input-to-regulate-cryptocurrency-operations" target="_blank">Zimbabwe government</a> is calling for public comments to create crypto regulations. Notably, this move marks its latest effort to engage with the digital asset sector.
The report, citing a local news outlet in Zimbabwe, suggests that the government is focusing on gathering insights from the <a href="https://coingape.com/glossary/cryptocurrency/" target="_blank" rel="noopener noreferrer nofollow">cryptocurrency</a> services providers along with the general public to draft the regulatory framework. Precisely, the country is seeking information from not only the domestic service providers but also from the international crypto players whose operations might impact the investors of Zimbabwe.
Meanwhile, a committee has been formed by the government to discuss with stakeholders in the virtual asset ecosystem. The committee will be gathering and analyzing the feedback to develop <a href="https://coingape.com/glossary/crypto-regulation/" target="_blank" rel="noopener noreferrer nofollow">crypto regulations</a> that balance innovation with security in the nation. However, it’s worth noting that the deadline for comments submission is set on June 26, indicating the urgency of the initiative.
Also Read: <a href="https://coingape.com/us-presidential-candidate-donald-trump-meets-bitcoin-miners-in-the-us-whats-cooking/" target="_blank" rel="noopener noreferrer nofollow">US Presidential Candidate Donald Trump Meets Bitcoin Miners, What’s Cooking?</a>
<h2 id="following-global-trends">Following Global Trends</h2>
Zimbabwe has also previously attracted the eyes of crypto market enthusiasts. For context, last year, the country introduced a gold-backed virtual token to fight financial woes and <a href="https://coingape.com/education/what-is-inflation-what-causes-it-and-its-effects-4-examples-of-inflation/" target="_blank" rel="noopener noreferrer nofollow">inflation</a>. Besides, in April this year, Zimbabwe launched ZiG or Zimbabwe Gold, marking its latest move to stabilize the currency system.
Notably, this new currency <a href="https://coingape.com/zimbabwe-replaces-local-dollar-with-gold-backed-zig/" target="_blank" rel="noopener noreferrer nofollow">ZiG</a> replaced the Zimbabwean dollar, which has previously failed many times, contributing to the higher prices in the country. However, Zimbabwe’s push towards crypto regulation aligns with a global trend where countries are seeking to harness the benefits of digital currencies while mitigating associated risks. By inviting public opinion, Zimbabwe aims to craft policies that reflect the needs and concerns of its citizens and crypto market participants.
Meanwhile, this latest approach of Zimbabwe reflects the push from other regions as well, including <a href="https://coingape.com/south-korea-to-unveil-stringent-rules-for-digital-assets-heres-all/" target="_blank" rel="noopener noreferrer nofollow">South Korea</a>, Australia, and others, where authorities are working to establish clear regulations for the crypto sector. These regulations aim to enhance investor protection, ensure market stability, and foster innovation.
Also Read:
<ul>
 <li><a href="https://coingape.com/elon-musk-drops-the-lawsuit-on-openai-for-breach-of-mission-whats-next/" target="_blank" rel="noopener noreferrer nofollow">Elon Musk Drops the Lawsuit on OpenAI For Breach of Mission, What’s Next?</a></li>
 <li><a href="https://coingape.com/bitcoin-news-btc-etf-impact-price-stability-long-run/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETF To Impact Price Stability In Long Run</a></li>
 <li><a href="https://coingape.com/xrp-price-struggles-to-reach-0-49-whales-shift-64m-coins-what-next/" target="_blank" rel="noopener noreferrer nofollow">XRP Price Struggles To Reach $0.49 As Whales Shift 64M Coins, What’s Next?</a></li>
</ul>
The post <a href="https://coingape.com/zimbabwe-joins-global-race-new-push-towards-crypto-regulations/" rel="noopener noreferrer nofollow">Zimbabwe Joins Global Race With New Push Towards Crypto Regulations</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Zimbabwe Joins Global Race With New Push Towards Crypto Regulations

Table of Contents

Coingape News Media

Other articles published on Jun 12, 2024

Top Analyst Predicts Altcoins and DeFi Surge Amid Bitcoin (BTC) Dominance – Here’s Why

300% Spike in Shiba Inu Token Transaction Fees Stuns Shibarium

SHIB gears up for major bullish breakout as 5thScape gains traction

Bitget Supports Bitcoin Lightning Network to Propel BTC Ecosystem Advancement

Bitfarms’ Stock Surges 47% as Riot Takeover Attempt Heats Up

What’s Behind the Memecoins Mania?

Join our free newsletter for daily crypto updates!