Zimbabwe Launches Crypto Licensing Framework Amid Growing Industry

Zimbabwe has introduced its first crypto licensing framework, marking a significant shift in regulating digital assets within the country's economy. The framework requires virtual asset businesses to register with the Financial Intelligence Unit (FIU) and pay an annual US$500 licensing fee.

The move aims to bring the fast-growing crypto market into the formal economy under direct anti-money laundering oversight for the first time. Finance Minister Mthuli Ncube issued regulations that oblige any firm buying, selling, transferring, exchanging or safeguarding virtual assets to register every year with the FIU.

This development comes after years of legal ambiguity, which pushed activity onto peer-to-peer networks and informal online platforms. Trading volumes grew as Zimbabweans sidestepped the formal system, using WhatsApp groups and small brokers rather than licensed intermediaries.