RBZ calls Bitcoin illegal

The Reserve Bank of Zimbabwe (RBZ) has cautioned society against using Bitcoin, claiming its use is unlawful in the country
23 November 2017   918

Despite the fact that RBZ recognised the economic benefits of using digital currencies such as Bitcoin, it considered that any form of unregulated alternatives should be treated with caution, even if it introduced the unbanked an opportunity to restore financial control.

The RBZ has been waned towards regulating the cryptocurrency stating that in spite of its popularity, the central bank counteracted its use due to lack of a regulatory frameworks for exchanges and start-ups providing digital currency related financial services.

Research is currently being undertaken to ascertain the challenges and risks associated with these particular products and until we have actually established and come up with a legal and regulatory framework for them, it will not be allowed.


Norman Mataruka

Top-manager and registrar of banking institutions, RBZ

Zimbabwe's central bank has earlier warned that people who are engaged in investing in cryptocurrencies could lose their funds without recourse.

BTC Extortionists to Send Explosion Threats In US & CA

Police reported that explosive devices in the places specified by extortionists were not found
14 December 2018   90

In Canada and the United States, local businesses and residents received letters threatening to detonate a bomb if they did not send bitcoins to extortionists. Because of this, in some regions, law enforcement officers evacuated people from bus stations, schools and airports, reports Global News.

Extortionists threatened to blow up universities, schools, city halls and local businesses in the US states of Utah, Aidaxo, New York, Oklahoma and Illinois. The New York City Police Department urged residents not to panic or send bitcoins to criminals. Police also reported that explosive devices in the places specified by extortionists were not found.

In Canada, extortionists promised to blow up buildings and car dealerships in Toronto, Edmonton, Ottawa, Calgary and Montreal. Some residents of the attackers asked for a ransom in bitcoins in the amount of $ 20 thousand. After verification, the Calgary police stated that the messages were part of phishing attacks and did not pose a threat to the public.