Zimbabwe Government Denies Reports of Adopting Bitcoin as Legal Tender

Zimbabwe Government Denies Reports of Adopting Bitcoin as Legal Tender

Zimbabwe’s ministry of Information, Publicity and Broadcasting Services has confirmed that the country has no plans to adopt Bitcoin as an alternative cryptocurrency despite multiple media reports.

The Zimbabwe dollar will remain the only currency in the hyperinflation-stricken country.

On Nov. 7, local news portal Bulawayo24 reported that the Zimbabwean government had had discussions with private sector players about making crypto legal tender.

Related

Apple CEO Says He Owns Crypto In Response to Question About Bitcoin and Ether

The report was then picked up by some cryptocurrency news outlets and was shared by major crypto influencers.

El Salvador, a small tropical country in Central America, made history earlier this year by adopting Bitcoin as its official currency.

Other countries, however, are yet to follow suit. Last month, Mexican President Andres Manuel Lopez Obrador definitely ruled out adopting the flagship coin as an official currency.

Disclaimer: The opinions expressed by our writers are their
own and do not represent the views of U.Today. The financial and market information
provided on U.Today is intended for informational purposes only. U.Today is not
liable for any financial losses incurred while trading cryptocurrencies. Conduct
your own research by contacting financial experts before making any investment
decisions. We believe that all content is accurate as of the date of publication,
but certain offers mentioned may no longer be available.

Zimbabwe Government Denies Reports of Adopting Bitcoin as Legal Tender

Zimbabwe Government Denies Reports of Adopting Bitcoin as Legal Tender

Zimbabwe’s ministry of Information, Publicity and Broadcasting Services has confirmed that the country has no plans to adopt Bitcoin as an alternative cryptocurrency despite multiple media reports.

The Zimbabwe dollar will remain the only currency in the hyperinflation-stricken country.

On Nov. 7, local news portal Bulawayo24 reported that the Zimbabwean government had had discussions with private sector players about making crypto legal tender.

Related

Apple CEO Says He Owns Crypto In Response to Question About Bitcoin and Ether

The report was then picked up by some cryptocurrency news outlets and was shared by major crypto influencers.

El Salvador, a small tropical country in Central America, made history earlier this year by adopting Bitcoin as its official currency.

Other countries, however, are yet to follow suit. Last month, Mexican President Andres Manuel Lopez Obrador definitely ruled out adopting the flagship coin as an official currency.

Disclaimer: The opinions expressed by our writers are their
own and do not represent the views of U.Today. The financial and market information
provided on U.Today is intended for informational purposes only. U.Today is not
liable for any financial losses incurred while trading cryptocurrencies. Conduct
your own research by contacting financial experts before making any investment
decisions. We believe that all content is accurate as of the date of publication,
but certain offers mentioned may no longer be available.

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