Zimbabwe FIU orders registration of crypto firms

The Reserve Bank of Zimbabwe’s Financial Intelligence Unit issued a directive on June 16 requiring all virtual asset service providers to register with the FIU under new anti-money laundering and counter-terrorist financing rules. The unit said registration is for monitoring and does not by itself permit firms to operate.

The registration requirement implements provisions of Finance Act No. 7 of 2025, which amended Section 2 of the Money Laundering and Proceeds of Crime Act to include virtual asset service providers in the definition of a financial institution. The Minister of Finance gazetted the Money Laundering and Proceeds of Crime (Virtual Asset Service Providers Registration) Regulations on June 10, 2026 as Statutory Instrument 99 of 2026, giving the FIU statutory authority to require registration.

Under the regulations, any natural or legal person that exchanges cryptocurrencies and fiat currency, offers custody services or provides financial services connected to virtual assets must register with the FIU. The unit is named the primary supervisory authority responsible for enforcing the registration and monitoring framework.

The public notice states: “Registration with the FIU for AML/CFT purposes does not, in itself, constitute authorization to carry on business in Zimbabwe.” Firms must still obtain any operational approvals, licences or authorisations required from other domestic authorities, such as the Reserve Bank of Zimbabwe or the Securities and Exchange Commission of Zimbabwe, depending on their activities.

The FIU said the registration regime is intended to align Zimbabwe with international AML/CFT standards and to create a supervised framework for virtual asset activity. The regulator also highlighted risks connected to cryptocurrencies, noting volatility, cyberattacks, scams and fraud and warning that users may have limited or no recourse to compensation compared with traditional banking.

The rules apply to both individuals and companies operating in or offering services to the Zimbabwean market. The FIU did not specify a compliance deadline in its public notice. Firms and stakeholders were advised to consult Statutory Instrument 99 of 2026 and contact the unit for registration procedures and supervisory requirements.

The statutory change follows parliamentary approval of Finance Act No. 7 of 2025 in December 2025. That amendment formally brought virtual asset service providers within the legal definition of a financial institution, enabling regulators to require registration and oversight under AML/CFT laws.