Zimbabwe Government Establishes National Risk Assessment Coordination Committee for Cryptocurrency

According to Odaily, the government of Zimbabwe has established the National Risk Assessment Coordination Committee (NRACC). This multi-stakeholder committee is tasked with consulting stakeholders within the cryptocurrency ecosystem. The NRACC aims to determine the nature and scope of Zimbabwe's cryptocurrency ecosystem, and will also assess risks associated with cryptocurrencies, such as their potential misuse for money laundering, financing terrorism, and other illegal activities. Ultimately, the NRACC will propose appropriate regulatory frameworks for cryptocurrencies and their service providers. It invites both local and foreign cryptocurrency asset service providers to contribute to the national assessment process by completing a survey questionnaire. This move by the Zimbabwe government is seen as a step towards understanding and regulating the growing cryptocurrency market in the country.