Zimbabwe Mandates Crypto Firms to Register with Bank

Zimbabwe has introduced its first formal regulations for cryptocurrency businesses, requiring them to register with the central bank's financial intelligence unit or face potential prosecution. The new rules, enacted on June 12, 2026, mandate that any company involved in buying, selling, transferring, or safeguarding digital assets must obtain an annual license from the Financial Intelligence Unit of the Reserve Bank of Zimbabwe.

The initial registration fee is 500 dollars, with an annual renewal cost of 400 dollars. Operating without this registration is now a criminal offense. The regulations, known as Statutory Instrument 99 of 2026, do not declare cryptocurrencies legal tender but create a supervised space for digital asset businesses. They also incorporate anti-money laundering and counter-terrorism financing protocols.

This framework ends a period of legal ambiguity that began in 2018 when the Reserve Bank of Zimbabwe prohibited financial institutions from processing cryptocurrency transactions. That ban pushed trading onto peer-to-peer platforms and social media. The new rules appear to leave that prohibition in place for banks while establishing a registration channel...