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. 
Topic: Zimbabwe Bans All Cryptocurrency Activity - page 4. (Read 595 times)
Zimbabwe Economy has no big impact in world economies and their ban in crypto currencies ,though a bad news , won't affect the price of cryptocurrencies. Even in that country I think only few middle class have heard of bitcoins.
This kind of news always come from developing countries. These news don't make me worry about the future of bitcoin because bitcoin is not controlled by the governments. Just ignoring the advantages of cryptocurrencies by some governments make me sad.
This is very bad news, and Zimbabwe should not have to behave like that, because crypto currency can be used in Zimbabwean finances that are having problems with their currency.
Exactly, and this country is not the only one. People misunderstand a lot of information or just read the title and come here to post it as fast as fast as possible without to understand the content... And such circulars are circulating inside banks offices since years in different countries.
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
it is not a new LAW. its a reminder/memo(circular)
for banks to only offer only fiat services direct
you cannot buy a iphone in a bank branch. but that does not mean you cant buy a iphone/toilet roll/ baked beans.
nor does it mean that private citizens/businesses should have accounts shut down for offering things that a bank cant offer
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
it is not a new LAW. its a reminder/memo(circular)
for banks to only offer only fiat services direct
you cannot buy a iphone in a bank branch. but that does not mean you cant buy a iphone/toilet roll/ baked beans.
nor does it mean that private citizens/businesses should have accounts shut down for offering things that a bank cant offer
Issued 11 May, the Reserve Bank of Zimbabwe, the country’s central bank, laid out seven points in ordering the shutter of things crypto within the southeast African nation. Referencing two previous circulars going back as far as three years ago, the notice explains “’banking institutions’ attention is once again drawn to the risks involved with virtual currencies and the need to ensure strict adherence to sound risk management. Our investigations have revealed that the major cryptocurrency exchanges facilitating the trade of virtual currencies in Zimbabwe are Bitfinance (Private) Limited (Golix) and Styx24. Golix has gone further to set up an ATM machine through which cryptocurrency transactions are facilitated.”
If so, then it is not a good sign or news for the industry. I hope their govt re-consider the situation and accept it. Even if there is any barrier, they can try to resolve it.
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
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