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Zimbabwe bans banks from processing payments for cryptocurrencies
The ongoing meltdown in the cryptocurrency industry could push an estimated four million Kenyans who hold the digital assets deeper into losses. FILE PHOTO | NMG
Zimbabwe’s central bank has stopped local banks from trading or processing payments linked to cryptocurrencies like bitcoin, its governor said on Monday, but stopped short of banning local cryptocurrency trading exchanges.
In the southern African nation, those who trade in bitcoin say it offers rare protection as their bank deposits lose value almost by the day while others use it to fund family members studying abroad or purchase goods online.
