REGULATION | Zimbabwe Brings Crypto Firms Under Formal Oversight With New VASP Rules

Zimbabwe has introduced its first dedicated regulatory framework for cryptocurrency businesses requiring all Virtual Asset Service Providers (VASPs) to register with the Financial Intelligence Unit (FIU), as authorities seek to bring the country’s largely informal digital asset sector under anti-money laundering oversight.

The regulations, published as Statutory Instrument 99 of 2026 by Finance Minister, Mthuli Ncube, require exchanges, custodians, brokers, and other firms involved in buying, selling, transferring or safeguarding virtual assets to obtain annual registration from the FIU, a unit housed within the Reserve Bank of Zimbabwe.

Operating without registration is now an offense.

Under the new rules, applicants

• must be incorporated in Zimbabwe,
• maintain a physical office,
• appoint a resident compliance officer and at least two resident directors, and
• submit detailed anti-money laundering, cybersecurity and risk management policies.

Registration certificates are valid for one year and cost $500, while annual renewals cost $400.

The framework also introduces the Financial Action Task Force (FATF) “Travel Rule,” requiring VASPs to collect and transmit sender and beneficiary information for virtual asset transfers. Transfers to self-hosted wallets exceeding $1,000 will require proof of wallet ownership and enhanced monitoring.

Notably, the regulations extend beyond traditional crypto exchanges to cover entities that exercise control over decentralized protocols, smart contracts, or on-chain applications, reflecting a broader definition of crypto service providers than seen in many African jurisdictions.

The move marks a significant shift for Zimbabwe where cryptocurrency trading largely migrated to peer-to-peer markets after authorities barred financial institutions from handling crypto transactions in 2018.

Officials say the new framework is designed to combat money laundering and financial crime while providing legal certainty for a sector that has grown rapidly amid persistent demand for alternative stores of value and cross-border payment tools.

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