Zimbabwe regulator develops framework for virtual asset trading

Golden Finance reported that the Securities and Exchange Commission of Zimbabwe (SECZ) and the Reserve Bank of Zimbabwe (RBZ) are developing a framework for virtual asset trading. The framework aims to provide clear legislation, customer protection under the Data Protection Act, and educational support. Challenges include infrastructure investment and licensing fees for foreign-provided systems. An informal virtual asset ecosystem already exists but lacks security, leading to losses. Chengetedzai Depository Company (CDC) stated that it supports the legalization of virtual asset trading through regulation and pointed out that other countries have already done so. The digital asset industry is expected to grow significantly, providing Zimbabwe with a new asset class.