P2P bitcoin trade is surging in Zimbabwe via mobile exchange platforms like Ecocash, despite recent government efforts to curb the use of competing currencies locally. As of June 24, the reinstated Zimbabwe dollar (formerly RTGS dollar) is now the only recognized currency in the economically embattled southern African country. Finance minister Mthuli Ncube sees the move as a way to pull in the reins on re-dollarization, and implement greater controls and stability. Others see the new currency as a disastrous decision paving the way for continued hyperinflation.
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