1 min read 

Director of Zimbabwe’s central bank said “bitcoin is not actually legal” in his country.

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

It was not entirely clear if Mataruka was saying that bitcoin is not legal within Zimbabwe – that is, an officially recognized currency – or prohibited more widely.

Mataruka noted that research is being undertaken within the central bank to determine the risks related to cryptocurrencies like bitcoin, saying that “[Bitcoin] will not be allowed” until the central bank has drawn up a regulatory framework.

Zimbabwe’s central bank has warned that people who are involved investing in cryptocurrencies could lose their funds without recourse.

The central bank of Namibia said last month that it would prohibit the formation of cryptocurrency exchanges, as well as ban bitcoin’s use for goods and services payments.

“In addition to the bank not recognizing virtual currencies as legal tender in Namibia, it also does not recognize it to be a foreign currency that can be exchanged for local currency” officials said at the time.

Trade here