Zimbabwe Launches Crypto Registration Rules at $500 per Firm

Zimbabwe introduced its first licensing rules for crypto businesses on Wednesday, requiring all digital-asset firms to register with the Financial Intelligence Unit or face prosecution.

The rules, signed by Finance Minister Mthuli Ncube, set an initial registration fee of $500 and an annual renewal cost of $400. Companies that buy, sell, transfer, exchange or safeguard crypto assets must now come under the anti-money laundering body that reports to the Reserve Bank of Zimbabwe.

The framework does not lift Zimbabwe's 2018 ban on banks processing crypto transactions. That restriction sent most local trading into informal peer-to-peer networks and social-media channels. The new rules create a parallel oversight structure for the firms themselves, leaving the banking prohibition intact.

Registration costs sit well below those in neighboring markets. Nigeria requires prospective crypto service providers to hold the equivalent of hundreds of thousands of dollars in a local bank account before obtaining a license. Zimbabwe's lower fees signal an intent to pull informal operators into the regulated system rather than price them out, analysts said.