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Zimbabwe's Foreign Currency Ban Spurs Demand for Cryptocurrency

Columbus Mavhunga

   HARARE - Zimbabwe's ban on foreign currency, and the country's soaring
   inflation, have spurred demand for cryptocurrencies like bitcoin to try
   to preserve wealth; however, Zimbabwean authorities last year banned
   banks from processing bitcoin and warn cryptocurrencies are open to
   hacking.

   For the past two years, Dennis Kadengu has been buying as much
   cryptocurrency as he can afford. He uses bitcoin to buy and sell
   online, which he can't do with Zimbabwe's currency as it is worthless
   outside the country.

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