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Zimbabwe Government Denies Reports of Adopting Bitcoin as Legal Tender

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Tue, 11/09/2021 - 17:23
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Alex Dovbnya
Yet another crypto rumor has been debunked, with Zimbabwe saying that it has no plans to adopt Bitcoin as legal tender
Zimbabwe Government Denies Reports of Adopting Bitcoin as Legal Tender
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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.

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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.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.