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Regulation: Finance Minister Orders Local ZiG Currency to Be Used for Payment of Certain Taxes and Government Services in Zimbabwe Rather Than US Dollars

by Crypto Oracle July 29, 2024

As part of fresh initiatives to increase demand for the country's gold-backed currency, Zimbabwe's Finance Minister, Mthuli Ncube, has mandated that payments for government services be made in the local ZiG currency. On July 25, 2024, in Mount Hampden, 11 miles northeast…

News

REGULATION | As gold reserves increase by 30% in just 100 days, the governor of the Zimbabwe Reserve Bank declares, “We are on a De-Dollarization Journey.”

by Crypto Oracle July 17, 2024

John Mushayavanhu, the new governor of the Reserve Bank of Zimbabwe, reports that the nation's gold reserves now total $370 million, up 30% over the previous 100 days. During my 100 days in office, we have added almost 30% to those reserves.…

Industry News

Reserve Bank of Zimbabwe introduces gold-backed digital token ZiG

by Crypto Oracle October 15, 2023

The Reserve Bank of Zimbabwe (RBZ) has officially launched its gold-backed digital token dubbed Zimbabwe Gold (ZiG) as a payment option for retail use nationwide. In a statement, the central bank confirmed that ZiG will operate as legal tender, mandating banks and enterprises…