Topic: Zimbabwe Bans All Cryptocurrency Activity - page 3. (Read 595 times)
Somewhat not surprising news. I don't think this means the Bitcoin industry will die, just another obstacle. At the same time a lot of countries in Africa are adopting to cryptocurrency.
Zimbabwe’s central bank issued Circular to Banking Institutions No. 2/2018: Virtual Currencies, effectively banning all crypto activity in the African nation. Businesses dealing in decentralized currencies have 60 days to comply.
Full articles: https://news.bitcoin.com/zimbabwe-bans-all-cryptocurrency-activity-businesses-have-2-month-grace-period/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications
With a country as impoverished as Zimbabwe, reeking of severe poverty and extreme corruption among their government officials that resulted to their own currency reaching a very high infoation rate making it utterly worthless, they really couldn't afford any economic measures that would make them invest money first before earning profits. That is why bitcoin is banned in the said country.Full articles: https://news.bitcoin.com/zimbabwe-bans-all-cryptocurrency-activity-businesses-have-2-month-grace-period/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications
Personally I even think that digital currency can help a lot of people in their country. We know that some work can be done easily inside the house. It should reduce unemployment. Back again that this is the decision of the government and we as good citizens then must respect all the decisions that exist.
Zimbabwe’s central bank issued Circular to Banking Institutions No. 2/2018: Virtual Currencies, effectively banning all crypto activity in the African nation. Businesses dealing in decentralized currencies have 60 days to comply.
Full articles: https://news.bitcoin.com/zimbabwe-bans-all-cryptocurrency-activity-businesses-have-2-month-grace-period/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications
Full articles: https://news.bitcoin.com/zimbabwe-bans-all-cryptocurrency-activity-businesses-have-2-month-grace-period/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications
This is not going to affect significantly the expected growth of Bitcoin. I don't know how huge or small the crypto market in Zimbabwe. What I know is that it does not comprise a significant percentage in the entire crypto world market. I would be somehow troubled if that happens in Japan or in France or Germany or even in United Kingdom. And I do believe that this ban is not going to last long.
Zimbabwe’s central bank issued Circular to Banking Institutions No. 2/2018: Virtual Currencies, effectively banning all crypto activity in the African nation. Businesses dealing in decentralized currencies have 60 days to comply.
Full articles: https://news.bitcoin.com/zimbabwe-bans-all-cryptocurrency-activity-businesses-have-2-month-grace-period/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications
Zimbabwe is a developing country in the world, and news of this kind will always exist from other developing countries. The economy of this country has no major impact on the world economy, so their decision to ban any form of crypto currency in its country will not affect the Bitcoin market. I think it's like that. Full articles: https://news.bitcoin.com/zimbabwe-bans-all-cryptocurrency-activity-businesses-have-2-month-grace-period/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications
statements from this country will not affect any bitcoin price or crypto price
sad poor country
sad poor country
Zimbabwe’s central bank issued Circular to Banking Institutions No. 2/2018: Virtual Currencies, effectively banning all crypto activity in the African nation. Businesses dealing in decentralized currencies have 60 days to comply.
Full articles: https://news.bitcoin.com/zimbabwe-bans-all-cryptocurrency-activity-businesses-have-2-month-grace-period/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications
With a country as impoverished as Zimbabwe, reeking of severe poverty and extreme corruption among their government officials that resulted to their own currency reaching a very high infoation rate making it utterly worthless, they really couldn't afford any economic measures that would make them invest money first before earning profits. That is why bitcoin is banned in the said country. Full articles: https://news.bitcoin.com/zimbabwe-bans-all-cryptocurrency-activity-businesses-have-2-month-grace-period/?utm_source=OneSignal%20Push&utm_medium=notification&utm_campaign=Push%20Notifications
Zimbabwe banning all crypto currency activity will be the end of crypto currencies worldwide and everyone should sell now as soon as possible! 
Wait, who is Zimbabwe? I heard Zimbabwe has the most specialized internet crime police and we can expect that many citizens will be arrested soon because they will get catched using anonymous and decentralized crypto currency systems on their pcs and in the internet.
Honestly, no one cares what Zimbabwe declares.
Wait, who is Zimbabwe? I heard Zimbabwe has the most specialized internet crime police and we can expect that many citizens will be arrested soon because they will get catched using anonymous and decentralized crypto currency systems on their pcs and in the internet.
Honestly, no one cares what Zimbabwe declares.
While it does seem alarming indeed, if I'm not mistaken, this kind of situation prevails in many other countries. The Zimbabwe Central Bank's stipulations might as well have been copy-pasted from a recent 'advisory' put out by India's central bank, (the Reserve Bank of India).
Perhaps, globally, the central banking institutions are doing their due diligence, and the output is influenced by the ideological flavour of those countries as well as the extent of control they desire over the influence of Cryptocurrency on their economy.
These are action-reaction sequences that might well extend over the next decade or more, until some unwieldy consequence forces a cascade of uncontrolled events, like the 2008 spiral that led to the birth of Bitcoin in the first place.
Perhaps, globally, the central banking institutions are doing their due diligence, and the output is influenced by the ideological flavour of those countries as well as the extent of control they desire over the influence of Cryptocurrency on their economy.
These are action-reaction sequences that might well extend over the next decade or more, until some unwieldy consequence forces a cascade of uncontrolled events, like the 2008 spiral that led to the birth of Bitcoin in the first place.
Hello everyone, I do not think that such a country as Zimbabwe will be able to influence the crypto currency market, but in general, it is not very good for the world of crypto currency
So if its a first world country the influence will be great? this has an impact although we may not see it immediately but it actually has.Very sad news, many countries already have banned bitcoin because they can't control bitcoin over their Fiat money trading system and bank fears bitcoin, hence they banned bitcoin.
Sad news it is but it's not the country/government itself but the banks. The financial institutions which are responsible for any financial transactions.Read the article and this;
this is not a citizen /private business ban.. calm down
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so this memo is just a reminder to banks to not directly handle crypto.
this does not mean citizens/private businesses are banned. it jsut means that banks will not let you get toilet roll, teddybears, crypto or baked beans from a bank branch. all a bank branch can offer is FIAT services
this does not mean citizens/private businesses are banned. it jsut means that banks will not let you get toilet roll, teddybears, crypto or baked beans from a bank branch. all a bank branch can offer is FIAT services
Normally this would certainly be the case but these paragraphs imply otherwise -
“all financial institutions … ensure that they do not use, trade, hold and/or transact in any way in virtual currencies; ensure that they do not provide banking services to facilitate any person or entity in dealing with or settling virtual currencies; and exit any existing relationships with virtual currency exchanges within sixty days of the date of this Circular and proceed to liquidate and restitute existing account balances.”
"The ban includes “maintaining accounts, registering, trading, clearing, collateral arrangements, remittances, payment and settlement accounts, giving loans against virtual tokens, accepting them as collateral, opening accounts of exchanges dealing with them and transfer / receipt of money in accounts relating to purchase / sale of virtual currencies.”
Most of the time they say nothing about ending banking relationships with crypto exchanges and anyone trading it using banking, but that's much more explicit and comprehensive that usual.
No great loss to us. Could be a reasonably sized one to a few Zimbabweans.
Hello everyone, I do not think that such a country as Zimbabwe will be able to influence the crypto currency market, but in general, it is not very good for the world of crypto currency
This is a poor move by the bank of Zimbabwe to hinder decentralization.
This is equal to zero as this will only hinder banks and not citizens who trade. Banks are just against blockchain technology taking over their financial systems as well. Crypto will rule at the end of the day.
This is equal to zero as this will only hinder banks and not citizens who trade. Banks are just against blockchain technology taking over their financial systems as well. Crypto will rule at the end of the day.
In as much as the government is fighting for their own personal gain, the unemployed and the people in general has more to gain than lose in the crypto world. so i'll say its really a bad decision.
even though this kind of countries ban everything related to crypto I think they would not have too much effect in the general market conditions as there are not too much whales in the mentioned country.
If this news is true, I feel sad for those people their who are using cryptocurrency and hoping to make their lives better through this technology. Well, I still hope that this is not a final judgement, I know their government will support cryptocurrency in the future.
Very sad news, many countries already have banned bitcoin because they can't control bitcoin over their Fiat money trading system and bank fears bitcoin, hence they banned bitcoin.
this is not a citizen /private business ban.. calm down
this is a standard memo to BANKS. that BANKS(financial institutions) continue to only handle FIAT and not other things like toilet roll beanie baies, or crypto.
banks have rules and regulations to only handle fiat. these rules have been around for decades. way way way before bitcoin was even a thing. so this memo is just a reminder to banks to not directly handle crypto.
this does not mean citizens/private businesses are banned. it jsut means that banks will not let you get toilet roll, teddybears, crypto or baked beans from a bank branch. all a bank branch can offer is FIAT services
this is a standard memo to BANKS. that BANKS(financial institutions) continue to only handle FIAT and not other things like toilet roll beanie baies, or crypto.
banks have rules and regulations to only handle fiat. these rules have been around for decades. way way way before bitcoin was even a thing. so this memo is just a reminder to banks to not directly handle crypto.
this does not mean citizens/private businesses are banned. it jsut means that banks will not let you get toilet roll, teddybears, crypto or baked beans from a bank branch. all a bank branch can offer is FIAT services
Well i dont think they are any banks that offer crypto to its customer thats for every country. but its good to hear thats not banned in zimbabwe . it was going through bbc news they were saying more and more university graduation are coming to crypto in African countries because they dont have a good opportunity for employment. Crypto helps them a lot .
in my opinion this is just some bad news that tries to deceive and make bitcoin prices down and collapse the target is the trading players who just started and they try to give the fear.
this is not a citizen /private business ban.. calm down
People don't understand the meaning of ban here. You can buy and sell cryptocurrencies, via P2P exchange. You can trade them, hodl them and do anything under legal jurisdictions. If banks continue to deal with crypto related businesses, they would have to face consequences. And crypto business cannot function in that country anymore. That's what ban means. Yes, you are right. People are always able to buy and sell bitcoin. They can trade it peer to peer. But some governments are trying to make it difficult for the people specially when they want to convert bitcoin to their national money or their national money to bitcoin.
Any way, governments cannot stop people completely.
This decision does not cause any disturbance to the crypto market, as Zimbabwe's economy is irrelevant to the size of the world GDP
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