Zimbabwe just did something unusual for a country that banned banks from touching crypto eight years ago. It rolled out the welcome mat.
Statutory Instrument 99 of 2026, enacted on June 12, requires every virtual asset service provider operating in Zimbabwe to register with the Financial Intelligence Unit of the Reserve Bank of Zimbabwe. The cost of entry: $500 upfront, $400 per year to renew. Operating without that registration is now a criminal offense.
From ban to blueprint
Back in 2018, the Reserve Bank of Zimbabwe prohibited financial institutions from processing cryptocurrency transactions. The predictable result: trading didn’t stop, it just went underground. Peer-to-peer platforms became the default rails for Zimbabweans who wanted exposure to digital assets.
The new regulations cover businesses involved in buying, selling, transferring, or providing custody for digital assets. Certificates are valid for one year and non-transferable, meaning firms can’t simply acquire a license through a corporate acquisition shortcut. Some companies may also need separate licensing from SECZIM, Zimbabwe’s securities regulator, depending on the nature of their operations.
