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.
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The nation is assured that Government is not considering introducing another currency in the economy as reported in the media. The local currency remains the Zimbabwe dollar (ZW$) and not cryptocurrency#postcabinetbriefing pic.twitter.com/w5eQhxeufM
— Ministry of Information, Publicity & Broadcasting (@InfoMinZW) November 9, 2021
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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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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Dan Burgin
Vladislav Sopov
U.Today Editorial Team