Zimbabwe Stock Exchange Eyes Blockchain-Based Products, Needs Regulatory

Justin Bgoni , Zimbabwe Stock Exchange (ZSE) Chief executive officer says if regulatory certainty can be achieved, ZSE will be interested in adopting blockchain technology. This is according to a report on May 20th by local news daily The Chronicle .”

Bgoni, said definitively the adoption of blockchain at ZSE is a reality but pending when regulatory certainty is resolved, he said this while speaking in favour of blockchain technology.
Though the technology side is good, but then there is the money side to blockchain technology. In terms of regulation, it’s a bit hard as we are not yet clear on this and we do not want to do something where regulation is not clear as an exchange.” The issue of Regulatory certainty is presently being pursued in several jurisdictions.

Taxonomy Act (TTA) , the new token that has just been reintroduced in the United States for example, looks on to provide regulatory certainty for crypto by reclassifying and introducing uniform definitions of it.

According to the report, ZSE is considering blockchain-based services and products in real estate investment trust securities, mineral commodities exchange, and exchange-traded funds.

Zimbabwean fiat currency which collapsed in 2015 and since then Zimbabwe has been receiving numerous proposals on blockchain- based currency and activities. Zimbabwe is an ideal environment for bitcoin (BTC) firms and a blockchain summer school being opened in the country. This was as previously reported by Cointelegraph.

The country’s central bank, the reserve Bank of Zimbabwe in 2017, gave an announcement that bitcoin is illegal. Having said that, RBZ Director and Registrar Norman Mataruka commented that the bank had begun investigation on the risks involved with cryptocurrency, according to Norman, “they will still have to create a regulatory framework for digital assets before they could legalise cryptocurrencies..


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Credit: BitcoinKe


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