Zimbabwean Central Bank Considers Bitcoin ‘Illegal’

Zimbabwe’s central bank, Reserve Bank of Zimbabwe, has announced that the use of the cryptocurrency Bitcoin is not allowed in the country. The bank has already issued a warning in the past stating that investors in the digital currencies could lose their money without recourse.

According to the Reserve Bank of Zimbabwe’s Director and Registrar, Norman Mataruka, the use of “Bitcoin … is not actually legal” within the country’s jurisdiction. It is not clear, however, if Bitcoin is just not officially recognized as an authorized currency or it is totally prohibited as a legal tender within the country.

“In Southern Africa, what we have done as regulators, we have said that we will not allow [Bitcoin] in our markets.”


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