Zimbabwe may become the second country in the world to accept bitcoin as a legal tender
The country’s leadership drew attention to the growing demand for cryptocurrencies among the population, which considers it as a way to generate income. At the moment, the issue of regulating the entire sector by the state is being resolved. The government of Zimbabwe is considering using Bitcoin (BTC) as a legitimate payment method to meet the growing demand and keep up with modern technology.
According to local media, Colonel Charles Vekvete, secretary and head of the president’s office, confirmed that negotiations with the business are already underway. According to him, the disadvantages of the decentralized monetary system include unregistered international transfers, money laundering and illegal cash flow, due to which it is possible to finance criminal activities.
He also said that the authorities are trying to develop regulations to protect consumers and the financial future of the country. As a result, before making any major policy changes, the Government turned to various sectors of the economy for help and advice. According to the official, Zimbabwe has not yet made any official statements.
More and more countries are starting to look closely at the experience of El Salvador in the use and regulation of bitcoin. Despite the flood of criticism from the public, the government of El Salvador has remained adamant in its support for cryptocurrency legislation. Recently, Salvadoran President Nayib Bukele praised the success of the event, saying that the proceeds from bitcoin will be used to build 20 schools and hospitals.