The Financial Intelligence Unit (FIU) of the Reserve Bank of Zimbabwe has ordered all virtual asset service providers (VASPs) to formally register with the regulator. The directive covers any business handling digital currencies, including exchanges and wallet services.
Who's affected
The mandate applies to any entity that falls under the definition of a VASP — companies that exchange, transfer, or hold virtual assets like Bitcoin or other tokens. The FIU hasn't yet specified the exact registration process. What's clear is that operating without registration is no longer allowed.
By requiring registration, the FIU is putting Zimbabwe's crypto sector on a formal regulatory footing. The move gives the agency direct oversight of businesses that have largely operated without a clear legal framework. The FIU has not disclosed a timeline for registration or outlined penalties for non-compliance. For now, the message is straightforward: register or stop operating.
