{"id":13259,"date":"2021-10-16T12:54:06","date_gmt":"2021-10-16T12:54:06","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/impossible-to-run-away-from-cryptocurrencies-says-zimbabwe-finance-minister\/"},"modified":"2021-10-16T12:54:06","modified_gmt":"2021-10-16T12:54:06","slug":"impossible-to-run-away-from-cryptocurrencies-says-zimbabwe-finance-minister","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/impossible-to-run-away-from-cryptocurrencies-says-zimbabwe-finance-minister\/","title":{"rendered":"Impossible to Run Away From Cryptocurrencies Says Zimbabwe Finance Minister"},"content":{"rendered":"

Zimbabwe\u2019s increasingly pro-crypto finance minister, Mthuli Ncube, recently told his colleagues in government that it is now impossible to run away from cryptocurrencies. Ncube said this after revealing that some 30% of the country\u2019s youth are now invested in cryptocurrencies. <\/strong><\/p>\n

Zimbabwe Ready to Make Concessions on Cryptos<\/h2>\n

According to a report<\/a> by the Herald, Ncube also hinted that his ministry is now willing to make certain concessions on cryptocurrencies. However, unlike his recent comments in which he simply extolled<\/a> cryptocurrencies, Ncube insists that these must not be treated as currencies. He explained:<\/p>\n

But 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.<\/p>\n

By referencing the Victoria Falls Stock Exchange (VFSE) as the ideal platform for cryptocurrency transactions, Ncube is echoing sentiments that were previously expressed by Zimbabwe Stock Exchange (ZSE) boss Justin Bgoni.<\/p>\n

As reported<\/a> by Bitcoin.com News, Bgoni suggested at the time that the VFSE was open to listing cryptocurrencies. However, such listings would be subject to regulatory approval, Bgoni said.<\/p>\n<\/p>\n

Ministry Working on Crypto ETF<\/h2>\n

Indeed, in his remarks, while speaking at a business seminar in Dubai, Ncube appeared to suggest that this process of approving cryptocurrencies is already in the works.<\/p>\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>\n

Meanwhile, the same report quotes Ncube revealing that the Ministry of Finance is working with an unidentified investor based in Dubai to create or develop a crypto index. According to the minister, such an index would eventually lead to the creation of a crypto exchange-traded fund (ETF).<\/p>\n

Ncube added that Zimbabwe has engaged investors that are working with his ministry to create crypto ETFs.<\/p>\n

Do you agree with Ncube\u2019s remarks about cryptocurrencies being unstoppable? Tell us what you think in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nEmerging Markets, crypto etf, Cryptocurrency, investment class, Justin Bgoni, Mthuli Ncube, regulatory sandox, Reserve Bank of Zimbabwe, Victoria Falls Stock Exchange<\/p>\n","protected":false},"excerpt":{"rendered":"

Zimbabwe\u2019s increasingly pro-crypto finance minister, Mthuli Ncube, recently told his colleagues in government that it is now impossible to run away from cryptocurrencies. Ncube said this after revealing that some 30% of the country\u2019s youth are now invested in cryptocurrencies. Zimbabwe Ready to Make Concessions on Cryptos According to a report by the Herald, Ncube…<\/p>\n","protected":false},"author":0,"featured_media":13260,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-13259","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13259"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=13259"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/13259\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/13260"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=13259"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=13259"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=13259"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}