Zimbabwe Looks Towards A Future With Bitcoin As It Seeks Guidance For BTC Pay...
A lot of countries have been looking to follow in El Salvador’s footsteps since the country officially implemented bitcoin as a legal tender. Most of these countries have however been from the same region as El Salvador in Latin America. Others, while not looking to accept bitcoin as legal tender, have passed more favorable laws […]
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Zimbabwe, currently faced with incredible inflation and tough sanctions, could massively benefit from increased adoption of the open network of Bitcoin.
The country of Zimbabwe is not associated with financial stability by any means, yet things have taken a turn for the worse. Now that cash supplies are nearly non-existent, banks have to turn customers away. An excellent breeding ground for Bitcoin adoption, or will a different solution save the country? Even though various countries around the world are contemplating to go cashless in the future, running out of cash is not what most of them have envisioned. Unfortunately for Zimbabwe, that is exactly what happened. Not that this is a complete surprise, mind you, as the country has been....
The U.S. Department of Labor has been sued by a 401(k) plan administrator over its cryptocurrency guidance. “This lawsuit seeks to preserve the rights of American investors to choose how to invest money in their own retirement accounts.”
U.S. Labor Department Sued Over Crypto Guidance
The U.S. Department of Labor (DOL) and Secretary of Labor Martin J. Walsh have been sued over the department’s Compliance Assistance Release No. 2022-01. The guidance, titled “401(k) Plan Investments in ‘Cryptocurrencies,'” was issued on March 10.
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The fourth Savannah Fund accelerator class is underway. BitFinance, a bitcoin exchange in Zimbabwe, is one of four startups selected from a list of over 150 applications from across Africa. They will receive a seed fund of between $25K and $30K, as well as the opportunity to present at a demo day set for the end of July. Savannah Fund is a seed capital fund based in Nairobi Kenya. They invest in early-stage, high-growth technology (web and mobile) startups in sub-Saharan Africa. The fund has invested in about 20 startups in 6 countries (Kenya, Uganda, Ghana, Nigeria, South Africa and....
Zimbabwe’s increasingly pro-crypto finance minister, Mthuli Ncube, recently told his colleagues in government that it is now impossible to run away from cryptocurrencies. Ncube said this after revealing that some 30% of the country’s youth are now invested in cryptocurrencies.
Zimbabwe Ready to Make Concessions on Cryptos
According to a report by the Herald, Ncube also hinted that his ministry is now willing to make certain concessions on cryptocurrencies. However, unlike his recent comments in which he simply extolled cryptocurrencies, Ncube insists that these....