TL;DR, Zimbabwe’s Zig Currency is backed by $100 million cash and 2.52 tonnes of gold worth $185 million, replacing a dollar that declined 70% this year. Â Interest rates dropped from 130% to 20% as Zimbabwe Stock Exchange and national payment systems quickly adopted the new gold-backed currency. Public skepticism remains high due to past monetary…
TL;DR, Zimbabwe crypto regulation study launched June 12 with committee collecting data from local crypto companies, submission deadline June 26, aiming to map ecosystem and address money laundering risks. Government seeks comprehensive understanding of virtual asset industry through consultative approach, inviting both local and international firms to contribute to upcoming regulatory framework. Facing ongoing economic…
TL:DR, Zimbabwe’s ZiG currency launches as physical gold-backed money, with 2.6 tonnes gold reserves backing 1.1 billion ZiG units, replacing previous digital token plans in April Zimbabwe abandoned its digital currency ambitions, converting gold-backed digital tokens into physical ZiG notes and coins valued at international gold prices. One ZiG is equivalent to 1 mg of gold, with…
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