Zimbabwe Stock Exchange Eyes Blockchain-Based Products, Needs Regulatory Clarity

Zimbabwe Stock Exchange (ZSE) chief executive Justin Bgoni says ZSE is interested in adopting blockchain technology if regulatory certainty can be achieved.Regulatory certainty for the crypto spaces is currently being pursued in several jurisdictions. The newly reintroduced Token Taxonomy Act (TTA) in the United States for example, seeks to provide regulatory certainty for crypto by introducing uniform definitions and reclassifying it.ZSE is considering blockchain-based services and products in real estate investment trust securities, mineral commodities exchange, and exchange-traded funds, per the report.In 2017, however, the Reserve Bank of Zimbabwe (RBZ) — the country’s central bank — announced that bitcoin is illegal. That being said, RBZ Director and Registrar Norman Mataruka commented that the bank had begun investigating the risks of crypto, and that it would need to create a regulatory framework for digital assets before they could potentially legalize cryptocurrencies.

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