Zimbabwe introduces first rules requiring crypto firms to register

Zimbabwe has introduced its first regulatory framework for cryptocurrencies, requiring firms that deal in digital assets to register with the central bank in a significant shift for a market that has long operated informally.

Under Statutory Instrument 99 of 2026, enacted on June 12, every virtual asset service provider operating in the country must register with the Financial Intelligence Unit of the Reserve Bank of Zimbabwe. The rules were issued by Finance Minister Mthuli Ncube.

Businesses that buy, sell, transfer or safeguard virtual assets must register each year, at a cost of $500, with the unit, an anti-money-laundering body housed within the central bank. Operating without approval is now an offence, and the requirement also covers firms providing custody and related financial services.

The move marks a turnaround for a sector that was effectively pushed underground after Zimbabwe banned financial institutions from handling cryptocurrency in 2018, driving activity toward peer-to-peer platforms and informal brokers.

The framework incorporates anti-money-laundering and counter-terrorism-financing requirements, aligning the country more closely with standards promoted by the Financial Action Task Force. Officials say the rules aim to bring oversight to a fast-growing area of finance.