Zimbabwe Forms Crypto Risk Assessment Committee to Guide Regulations

IconCNT16 May, 2024

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Zimbabwe Forms Crypto Risk Assessment Committee to Guide Regulations

The Zimbabwean government has established a "National Risk Assessment Coordinating Committee (NRACC)" to better grasp the cryptocurrency industry, according to Bitcoin.com. The committee will analyze cryptocurrency-related risks, such as money laundering and terrorist funding, and propose a legal framework for cryptocurrency service providers. The NRACC will also assess the risks and benefits of cryptocurrencies, as well as develop policies to mitigate the risks and promote the responsible use of cryptocurrencies. The committee's work is expected to lay the groundwork for a comprehensive regulatory framework for cryptocurrencies in Zimbabwe. Previously on May 16, 2024, Zimbabwe's government formed a "National Risk Assessment Coordinating Committee (NRACC)" to better grasp the cryptocurrency environment, according to Bitcoin.com. The committee will analyze cryptocurrency-related risks, such as money laundering and terrorist funding, and propose a legal framework for cryptocurrency service providers.

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