Zimbabwean Regulators Develop Framework for Virtual Assets Trading

The Securities and Exchange Commission of Zimbabwe (SECZ) and the Reserve Bank of Zimbabwe (RBZ) are reportedly developing a framework for virtual asset trading. The framework aims to provide clear legislation, client protection under the Data Protection Act, and educational support. Challenges include infrastructural investment and licensing fees for foreign-supplied systems. An informal virtual asset ecosystem exists but lacks security, leading to losses. Chengetedzai Depository Company (CDC) said it supports regulation to legitimize virtual asset trading, noting that other countries have already done so. The digital assets industry is projected to grow significantly, offering Zimbabwe a new asset class to explore.