Bitcoin is a possible avenue for growth and Zimbabwe might accept it as legal tender due to its growing demand and popularity among people. The country is also considering regulating the entire crypto market.
The regulation and use of Bitcoin are increasing after its acceptance by the El Salvador government. A lot of criticism was done from citizens of El Salvador and overall from the world for this step. But, the government deserves appreciation for being determined to implement this in the whole country. President announced to open 20 schools from the revenue of BTC. The important thing is that more countries think that Bitcoin is a possible avenue for growth.
Bitcoin is a possible avenue for growth:
The local news reported that retired Brigadier Colonel Charles Wekwete has revealed that the Zimbabwe government is in consultation with the business to provide bitcoin a legal tender. He is a man with a lot of designation in the country like permanent secretary, head of the office of president, and head of cabinet’s technology unit. Bitcoin is a possible avenue for growth and the growing demand for the asset is forcing the government to look into the matters.
Despite this news about adoption, there is no clear confirmation from the country officials. Wekwete added that unregistered cross-border transfer of currency, money laundering, and externalization of money are the main loose ends of this decentralized ecosystem. The country has accepted a digital currency framework already in the implementation phase to make a digital economy.
Zimbabwe wants to save its people from scams and help its financial future. I think such a type of news isn’t surprising keeping in mind the surge of crypto in Africa overall.
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