103

Cryptocurrency Regulatory Framework in Zimbabwe

TABLE 6.10

Suggested Practice for Regulation (Principal Component Analysis)

Component

1

2

3

4

5

In your opinion, should cryptocurrencies be

regulated?

0.125

−0.076

0.138

0.857

−0.138

A law that separates the use of cryptocurrencies

from mainstream banking industry

0.028

−0.095

−0.105

−0.164

0.870

All cryptocurrency exchanges to register and be

licensed with RBZ for regular inspection of

transactions

−0.254

0.075

0.748

0.179

−0.072

The exchange should maintain a history of

transactions for users

0.213

−0.089

0.710

0.024

−0.010

Customer’s fund must be kept separate from the

funds of the exchange

0.020

0.845

−0.138

−0.221

−0.134

The government should add tax value on every

cryptocurrency prompt made

0.782

0.013

−0.234

0.188

−0.030

Extraction Method: Principal Component Analysis

Source: Primary data.

TABLE 6.11

Descriptive Statistics for Regulation Practice

N

Mean

Std. Deviation

In your opinion, should cryptocurrencies be regulated?

63

2.37

0.814

A law that separates the use of cryptocurrencies from mainstream

banking industry

63

3.68

1.156

A law that makes cryptocurrency a legal tender (it is officially

recognized as a currency that can be used to purchase)

63

4.27

0.605

All cryptocurrency exchanges to register and be licensed with RBZ

for regular inspection of transactions

63

3.29

0.492

The exchange should maintain a history of transactions for users

63

3.44

0.643

Exchange should report suspicious activity to RBZ

63

4.00

0.724

Customer’s fund must be kept separate from the funds of the

exchange

63

4.10

0.824

The government should add tax value on every cryptocurrency

prompt made

63

2.81

1.545

Jail for non-cryptocurrency users on tax evasion

63

2.81

1.524

Introduce anonymous tax on non-registered users of cryptocurrency

63

2.81

1.513

Valid N (listwise)

63

Source: Primary data.