Zimbabwe’s ban on the use of foreign currency, the use of bitcoin surged

According to Bitcoinist, Zimbabwe’s peer-to-peer bitcoin transactions have recently hit new highs after Zimbabwe’s President Emmerson Mnangagwa resumed Zimbabwe’s dollar. The ban also prohibits the settlement of local transactions in pounds sterling, South African rand, US dollars and other foreign currencies. Currently, Zimbabwe is one of the most commercially active markets based on cryptocurrency, and Zimbabweans prefer to use this digital asset as a stable means of value storage rather than the Zimbabwean dollar.