{"id":12331,"date":"2021-10-16T14:21:13","date_gmt":"2021-10-16T13:21:13","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=12331"},"modified":"2021-10-16T14:21:23","modified_gmt":"2021-10-16T13:21:23","slug":"cryptocurrencies-cannot-be-ignored-at-this-time-zimbabwe-finance-minister","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/cryptocurrencies-cannot-be-ignored-at-this-time-zimbabwe-finance-minister\/","title":{"rendered":"Cryptocurrencies cannot be ignored at this time – Zimbabwe Finance Minister"},"content":{"rendered":"\n
The Zimbabwe Finance Minister<\/a>, Mthuli Ncube suggests treating cryptocurrency as a type of investment rather than a currency. <\/h5>\n\n\n\n
\"Cryptocurrencies<\/figure><\/div>\n\n\n\n

In 2021, the cryptocurrency industry became mainstream, drawing not only institutional investors\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> and millionaires, but also governments.<\/p>\n\n\n\n

First, El Salvador made history by making Bitcoin legal tender, setting off a chain reaction that saw countries like Paraguay, Argentina, and Panama consider legalizing cryptocurrency use in their financial systems.<\/p>\n\n\n\n

Now Zimbabwe may join the growing league, as the country's Finance Minister has stated that cryptocurrencies cannot be ignored at this time.<\/p>\n\n\n\n

Mthuli Ncube, the finance minister, stated that over 30% of the country's youth are invested in crypto-assets and that it is impossible to avoid<\/a> them.<\/p>\n\n\n\n

The finance minister has hinted at prospective concessions on the crypto market to boost its use, according to a Herald story. Ncube insisted on treating cryptocurrency as a type of investment rather than a currency. He clarified,<\/p>\n\n\n\n

\u201cBut our view is that we do not want it to be a currency. Want this to be an investment class. So through the Victoria Falls Stock Exchange platform, we will try to create crypto-based products there, which are ring-fenced within the offshore zone.\u201d<\/p><\/blockquote>\n\n\n\n

Ncube intimated during his conversation in Dubai that the Zimbabwean government <\/a>had already begun the process of regulating cryptocurrency. The administration has initiated a sandbox initiative, he explained.<\/p>\n\n\n\n

\u201cWe have taken the first step already and created a sandbox, at the Reserve Bank of Zimbabwe (RBZ), where the idea and everything is being tested in a safe regulated environment where it will then migrate to this safe Victoria Falls environment,\u201d Ncube said.<\/p><\/blockquote>\n\n\n\n

The digital assets market, which was formerly regarded as an internet bubble, is now constructing a new world financial order, as evidenced by the increased interest of financially distressed countries in crypto.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Zimbabwe Finance Minister, Mthuli Ncube suggests treating cryptocurrency as a type of investment rather than a currency. In 2021, the cryptocurrency industry became mainstream, drawing not only institutional investors and millionaires, but also governments. First, El Salvador made history by making Bitcoin legal tender, setting off a chain reaction that saw countries like Paraguay, […]<\/p>\n","protected":false},"author":12,"featured_media":12337,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[376,1115,5136],"class_list":["post-12331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","tag-cryptocurrencies","tag-finance-minister","tag-zimbabwe"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/10\/Cryptocurrencies-cannot-be-ignored-at-this-time-Zimbabwe-Finance-Minister.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/12331","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=12331"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/12331\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/12337"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=12331"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=12331"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=12331"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}