The RBZ boss warned against the transacting public as well as financial institutions against trading in cryptocurrencies or virtual currencies claiming that these pose huge risks due to their anonymous nature.
Further to the press statement issued by the RBZ in December 2017, Mangudya said due to their opacity and pseudonymous nature, the central bank has not authorised or licenced any entity or person or exchange for the issuance, sale, purchase, exchange or investment in any virtual currencies/coins/tokens in Zimbabwe.
Cryptocurrencies such as bitcoin and litecoin have been widely traded especially in the western world with banks and exchanges being set up to trade in them.
In the press statement published by the state broadcaster, ZBC, Mangudya cited Bitfinance Private Limited and Styx24 as companies trading in crypotcurrencies in Zimbabwe.