30 Jul '16, 6pm

Zimbabwe Central Bank Warns Bitcoin Use; No Regulations Yet - CoinTelegraph

At the annual Digital Payments Conference held at the Meikles Hotel Zimbabwe on July 28, the Reserve Bank of Zimbabwe (RBZ) warned the country’s citizens against the various risks involved in using Bitcoin. The central bank’s Senior Executive of the National Payment Systems department Josephat Mutepfa, told the event’s audience—which primarily consisted of financial startups, experts, and entrepreneurs—that despite the popularity of Bitcoin, the Reserve Bank of Zimbabwe discourages the use of Bitcoin. This is due to the lack of regulatory frameworks for exchanges and startups providing digital currency related financial services. While economic benefits of using digital currencies such as Bitcoin are evident to the central bank, the organization believes that any type of unregulated alternatives must be approached with caution, even if it provides the unbanked an opportuni...

Full article: https://cointelegraph.com/news/zimbabwe-central-bank-warn...

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