Zimbabwe banned the Bitcoin

Zimbabwe has taken a radical decision about the Bitcoin. In fact, the political authorities of the country have simply chosen to prohibit the issuance, sale, purchase, exchange and investment of crypto-currencies. Many of the citizens to shout at the scandal.

A decision controversy

It is the 11th of last may that the central bank of Zimbabwe is the output of the silence to confirm the bad news. The country has taken the decision to ban the possession, trade as well as the transfer of Bitcoins. If this realignment without doubt not the market of crypto-currencies at the international level, the citizens are very upset by this measure.

Pixabay – Mohammed Hassan / The Zimbabwe authorities have made a radical decision.

In fact, the crypto-currency to avoid hyperinflation. However, Zimbabwe is going through a period very complicated, and the country issuing a ticket of 100 000 billion dollars ! The political authorities are concerned about the enthusiasm of the population for the crypto-currencies have simply decided to ban them. As well, the RBZ, that is to say, the Reserve Bank of Zimbabwe, has closed the services offered by financial institutions to companies of Bitcoins.

An immediate ban

The director of the RBZ, Norman Mataruka, said : “as the monetary authority, the Reserve Bank of Zimbabwe is the custodian of public funds and has an obligation to preserve the integrity of payment systems. “

The time limit is 60 days, the objective being that the banks put an end to any agreement related to virtual currencies. According to the authorities, this decision was taken in the interest of the country, in order to safeguard the integrity of the financial system.

Pixabay – Geralt / The Bitcoin is now banned in the country.

The governor of the central bank, John Mangudya, said : “The Reserve Bank of Zimbabwe has neither authorized nor approved by a person, an entity or a stock exchange to propose the issuance, sale, purchase, trade, or investment in currencies/coins/tokens virtual in Zimbabwe. Scholarships such as BitFinance, Golix and Styx24 are not licensed or regulated by the Reserve Bank. “

However, it seems that this is not in the interest of citizens, in the context of financial crisis serious, can not at all escape the system. The decision by the Zimbabwe is at the origin of many controversies.

Source : BTC Manager