Bitcoin BTC

Zimbabwe working on BTC adoption

  • Zimbabwe is considering adopting Bitcoin as a legal tender according to reports
  • In a Summit, Retired Cabinet Brigadier General Charles Wekwete spoke on the matter
  • The government is currently consulting with private firms to regulate and implement BTC payments

After the adoption of Bitcoin (BTC) as legal tender by El Salvador, the next country to follow in its footsteps is a landlocked country in southern Africa, Zimbabwe.

Zimbabwe government considering ways to adopt Bitcoin (BTC)

Known for its receptive nature involving crypto regulations, the Zimbabwe government has paid attention to the increasing demands of cryptocurrencies in the country. According to a local news report, the government is looking for ways to implement Bitcoin payments to meet the increasing demands. 

Permanent Secretary and Head of e-government Technology Unit in the Office of the President and Cabinet Brigadier General (Retired) Charles Wekwete spoke at the Computer Society of Zimbabwe (CSZ) information communication technologies (ICT) Summit that took place in Victoria Falls on Nov. 6. According to Wekwete, the talks on using BTC for payments are currently going on with individuals in the private sector. He further stated that there are a number of issues related to cryptocurrencies. These issues are mainly centered around money laundering and illicit transfer of money across borders. For this reason, the government of Zimbabwe is still not perfectly clear on giving cryptocurrencies a green signal. 

Global BTC Progress

Wekwete says that the government is currently engaged in regulating these blockchain-based assets keeping in mind the monetary benefits that could be gained from crypto-based assets. 

While Zimbabwe is having discussions regarding the adoption of Bitcoin as legal tender and figuring out ways to regulate blockchain-based assets, El Salvador has taken another monumental step in Bitcoin adoption. President Nayib Bukele recently announced that the profits made from Bitcoin would be used to build 20 Bitcoin schools in the nation. 

Moreover, the Mayor-elect of New York City, Eric Adams, has also suggested for schools to include cryptocurrencies in their curriculum. Adams also announced that he would be accepting his first three paychecks in Bitcoin, a monumental step in US politics.

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Parth

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A writer, an author, a freelancer with writings in over 50+ niches, an editor, a proofreader, a music enthusiast, a YouTuber, a podcaster, and someone, who puts consistent efforts each day to make sure his creativity is noticed. What's more? He loves cryptocurrencies.

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