The Zimbabwean government formalized the country's cryptocurrency sector under Statutory Instrument 99 of 2026, placing all crypto entities under the oversight of the Reserve Bank of Zimbabwe (RBZ)'s anti-money laundering arm. The new regulatory framework aims to curb money laundering and bring the digital asset business out of the shadow economy. According to one report, the legislation is part of an effort to keep the country off the Financial Action Task Force (FATF) grey list. The mandate ends the ambiguity that began in 2018 after the central bank ordered financial institutions to stop processing crypto-related transactions.
Zimbabwe Requires VASPs to Register With RBZ Under New Framework
Under the newly gazetted legislation, published as Statutory Instrument 99 of 2026, commercial enterprises that help users buy, sell, move, or store digital assets must formally register as virtual asset service providers (VASPs). To operate legally, digital asset companies must establish a legally registered domestic subsidiary and pay an annual registration fee of $500. Directors are required to clear background checks.
According to a local tech publication, Techzim, the regulations are designed to police financial crime rather than offer a sovereign endorsement of cryptocurrencies as legal tender. The publication reported following the gazetting that "a big part of S.I.99 is really Zimbabwe showing its homework to the world."
Regulations Impose Compliance Obligations on Crypto Firms
The regulations impose operational compliance demands modeled after traditional commercial banking. Companies must implement the FATF Travel Rule as part of their anti-money laundering obligations. The statutory instrument takes what is described as a technology-neutral stance on emerging finance, clarifying that decentralization does not shield businesses from accountability.
Companies or organizations with the ability to alter a smart contract, route funds, or set transaction fees meet the threshold of exercising control and are therefore legally required to comply. While the legislation is said to impose high compliance costs for local fintech startups, proponents argue that clear guidelines provide a predictable legal environment that could protect the domestic fintech ecosystem from unexpected regulatory shutdowns.
FAQ
What did Zimbabwe do under Statutory Instrument 99 of 2026?
Zimbabwe legalized its cryptocurrency sector under Statutory Instrument 99 of 2026, requiring all virtual asset service providers to register with the Reserve Bank of Zimbabwe's anti-money laundering arm. The framework places crypto entities under direct regulatory oversight.
What are the registration requirements for crypto firms in Zimbabwe?
Crypto firms must establish a legally registered domestic subsidiary, pay an annual registration fee of $500, implement the FATF Travel Rule, and ensure directors clear background checks. Companies that help users buy, sell, move, or store digital assets must register as VASPs.
Why did Zimbabwe introduce crypto regulations?
According to one report, the legislation is part of an effort to keep Zimbabwe off the Financial Action Task Force grey list. The regulations aim to curb money laundering and bring the digital asset business out of the shadow economy.
