Zimbabwe is currently engaged in consultations regarding growing interest in crypto and the potential risks.
Zimbabwe has been paying attention to the increasing demand for crypto among its people, which it views as a possible avenue for growth. The country has also been receptive to regulating the entire sector.
Zimbabwe's government is considering utilizing Bitcoin as a legal payment option to meet this growing demand and harness the technology, according to local news.
According to the news, retired Brigadier Colonel Charles Wekwete, the Permanent Secretary and Head of the Office of the President and Cabinet's e-government Technology Unit, confirmed that discussions with businesses are already underway.
According to Wekwete, the disadvantages of the decentralized ecosystem include unregistered cross-border transfers, externalization of money, money laundering, and ill-gotten cash flow into subsequent illicit or unlawful actions.
He also stated that the authorities are attempting to develop regulations to protect consumers and help the country's financial future. As a result, before making any major policy changes, the government has sought input from different sectors.
Zimbabwe has not yet made any major declarations, according to the official, who added that the country is still in the consultation stage.
Source and continuation of news:
https://cointelegraph.com/news/zimbabwe-may-be-the-next-country-to-embrace-bitcoin-as-legal-tender