Bitcoin has sparked interest in Zimbabwe as the Zimbabwe dollar was abandoned in 2009 due to hyperinflation. Zimbabwe's central bank on Monday warned against trading in cryptocurrencies, saying virtual currencies such as bitcoin were not regulated in the country. Bitcoin has sparked interest in Zimbabwe as the Zimbabwe dollar was abandoned in 2009 due to hyperinflation and the banking system relies on scarce US dollar banknotes. Zimbabwe also has a "bond note" currency whose value is supposed to be pegged to the US currency, but which trade at a significantly lower rate in reality. "Virtual currencies such as Bitcoin and litecoin do not have legal tender status," John Mangudya, Zimbabwe's central bank governor, said in a statement.

Source: Daily Mail May 14, 2018 13:07 UTC