Zimbabwe’s government said on Friday it will require cryptocurrency businesses to register and pay annual fees, as it seeks to bring the largely informal market under regulatory oversight.
Businesses involved in buying, selling, transferring or safeguarding virtual assets must register each year with the Financial Intelligence Unit (FIU), an anti-money laundering body housed within the central bank, under regulations issued by Finance Minister Mthuli Ncube.
Registration will cost $500 per year, and operating without it is now an offence.
Crypto use in Zimbabwe
The regulations are Zimbabwe’s first dedicated rules for a sector that has long operated without a legal framework, largely underground. The government banned financial institutions from trading cryptocurrency in 2018, pushing traders onto peer-to-peer platforms and social media.
Hyperinflation in the late 2000s wiped out savings and pensions, while repeated currency changes eroded trust in the banking system, driving demand for Bitcoin and other digital currencies alternative stores of value and means of transfer outside the formal system.
Remittances have fuelled adoption, with banks being the most expensive transfer channel, according to the World Bank’s Remittance Prices Worldwide report.
Zimbabwe’s move comes amid a broader global push to regulate cryptocurrencies following a series of high-profile exchange failures, fraud cases and concerns over money laundering.
More countries regulating digital asset
It joins a growing number of African countries, including South Africa, Nigeria, Kenya and Mauritius, that have moved to regulate digital assets as crypto use across the continent surges.
Sub-Saharan Africa received more than $205-billion in on-chain value – the total dollar value of cryptocurrency transactions recorded on blockchains – between July 2024 and June 2025, a 52% year-on-year increase, according to the Chainalysis 2025 Global Crypto Adoption Index.
“This is a welcome development … It’s also good for traders that they don’t have to operate underground,” Jeffrey Mutambiranwa, a Harare crypto trader, said.
- Zimbabwe’s government will require cryptocurrency businesses to register annually with the Financial Intelligence Unit and pay a $500 fee, making unregistered operation an offense.
- These regulations are Zimbabwe’s first legal framework for the largely informal crypto market, previously banned from financial institutions since 2018.
- Demand for cryptocurrencies in Zimbabwe is driven by past hyperinflation, currency instability, and expensive remittance channels.
- Zimbabwe joins several African nations like South Africa, Nigeria, Kenya, and Mauritius in introducing formal crypto regulations amid rising digital asset adoption.
- Sub-Saharan Africa's cryptocurrency transactions surged 52% year-on-year, totaling over $205 billion in on-chain value between July 2024 and June 2025.
Businesses involved in buying, selling, transferring or safeguarding virtual assets must register each year with the Financial Intelligence Unit (FIU), an anti-money laundering body housed within the central bank, under regulations issued by Finance Minister
Registration will cost $500 per year, and operating without it is now an offence.
Hyperinflation in the late 2000s wiped out savings and pensions, while repeated currency changes eroded trust in the banking system, driving demand for Bitcoin and other digital currencies alternative stores of value and means of transfer outside the formal system.
Remittances have fuelled adoption, with banks being the most expensive transfer channel, according to the World
It joins a growing number of African countries, including
Sub-Saharan Africa received more than $205-billion in on-chain value – the total dollar value of cryptocurrency transactions recorded on blockchains – between July 2024 and June 2025, a 52% year-on-year increase, according to the Chainalysis 2025 Global Crypto Adoption
"
