Zimbabwe Cracks Down on Crypto Firms, Mandates Registration Under New Regulations

The Zimbabwean government has introduced a new regulatory framework for cryptocurrency businesses, requiring them to register with financial authorities. The move marks a significant shift towards formal oversight of the country's digital asset sector.

The regulations, issued by Finance Minister Mthuli Ncube, mandate that companies engaged in buying, selling, transferring, or custody of digital assets must obtain annual registration with the Financial Intelligence Unit (FIU), the anti-money laundering agency operating under the Reserve Bank of Zimbabwe. The framework imposes a one-time registration fee of $500 and an annual renewal fee of $400.

The new approach signals a transition from restrictive measures to a system focused on regulation, monitoring, and compliance within the formal financial sector. This comes amid growing cryptocurrency adoption across sub-Saharan Africa, with Chainalysis reporting approximately $205 billion in cryptocurrency transactions between July 2024 and June 2025.