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Financial Advisory and Intermediary Services (FAIS) Act

South African Dispute Resolution Office Says It Now Considers Crypto-Related Complaints

South African Dispute Resolution Office Says It Now Considers Crypto-Related ComplaintsAccording to South Africa’s Office of the FAIS Ombud, an independent dispute resolution office, individuals with crypto-related grievances that occurred after Oct. 19, 2022, can now formally submit such complaints on the agency’s website. However, the Office of the FAIS Ombud insisted that all complaints that occurred before crypto assets were designated financial products will […]

Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’

South African Financial Sector Regulator Declares Crypto Assets a Financial Product

South African Financial Sector Regulator Declares Crypto Assets a Financial ProductAccording to a general notice published in a government gazette, crypto assets are now treated as financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act. Declaration of the crypto assets as financial products means crypto asset service providers (CASP), such as exchanges, must apply for a license. Declaration Applicable to Any Digital […]

Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’

South African Crypto Investors and Service Providers Told of Legal and Tax Implications of Central Bank’s Plan

South African Crypto Investors and Service Providers Told of Legal and Tax Implications of Central Bank’s PlanSouth African tax consultancy firm Tax Consulting SA, has said the recent announcement by the central bank — that will start to regulate cryptocurrency in 12 to 18 months — has legal and tax implications for both crypto investors and organizations providing intermediary services. The firm, however, says the South African Reserve Bank (SARB) “will […]

Jeremy Allaire Unveils Stablecoin Prediction, Says One Use-Case ‘Definitely The Killer App’