Zimbabwe’s Cryptocurrency Consultation and Economic Measures

Zimbabwe Seeks Public Input on Cryptocurrency Regulation
Key Points:

1. Public Input Needed: Zimbabwe is requesting feedback from cryptocurrency service providers to help shape regulatory policies. The deadline for comments is June 26.
2. ZiG Currency Launched: The country has introduced a gold-backed currency, ZiG, aiming to stabilize its economy and address ongoing financial instability.
3. Debt Reorganization: Zimbabwe is reorganizing $19.2 billion in debt, including $13 billion owed to international investors, to improve its financial situation.
   Summary:
   The Zimbabwean government is seeking public input to develop regulations for cryptocurrency operations, with a deadline for comments set for June 26. This initiative is part of a broader effort to understand and assess the cryptocurrency landscape in the country. In addition, Zimbabwe recently launched a gold-backed currency called ZiG to combat inflation and stabilize its economy. The ZiG replaced the Zimbabwean dollar, which had repeatedly crashed, and is now used as a base for computing inflation. Furthermore, Zimbabwe is working on reorganizing a $19.2 billion debt, including $13 billion owed to international investors, to restore financial stability and promote economic growth.