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Regulator Claims South Africa Set to Unveil Cryptocurrency Regulatory Framework in Early 2022

Regulator Claims South Africa Set to Unveil Cryptocurrency Regulatory Framework in Early 2022In early 2022, South Africa will have a new regulatory framework that covers cryptocurrencies, a commissioner with a regulatory body has said. Highly Risky Products South Africa’s financial sector regulator, the Financial Sector Conduct Authority (FSCA) is set to unveil a new regulatory framework that covers cryptocurrency in early 2022. According to Unathi Kamlana, a […]

El Salvador makes Bitcoin payments voluntary in $1.4B IMF loan deal

After Warnings from South African Regulators Binance Rejects Accusations It Provides Financial Advice

After Warnings from South African Regulators Binance Rejects Accusations It Provides Financial AdviceBeleaguered crypto exchange, Binance, has released a statement in which it denies accusations that provides financial advice or renders any intermediary services. In a statement released on Twitter less than 24 hours after the Financial Sector Conduct Authority (FSCA)’s warning, the crypto exchange also denies having any ties or links to the organization “Binance Group.” […]

El Salvador makes Bitcoin payments voluntary in $1.4B IMF loan deal

Two Masterminds in Last Ditch Effort to Stall Liquidation of MTI

Two Masterminds in Last Ditch Effort to Stall Liquidation of MTIIn a last-ditch attempt to stall the sale of Mirror Trading International (MTI) assets, two masterminds of the collapsed bitcoin Ponzi scheme have warned investors that liquidating the investment company will likely result in them being asked to return all withdrawn bitcoins. Opposition to Attempts at Declaring MTI a Ponzi Scheme In a court filing […]

El Salvador makes Bitcoin payments voluntary in $1.4B IMF loan deal

South Africa Regulator Wants Mirror Trading International to Pay Millions as Penalty For Contravening Financial Sector Law

South Africa Regulator Wants Mirror Trading International to Pay Millions as Penalty For Contravening Financial Sector LawA South African regulator, the Financial Sector Conduct Authority (FSCA), has informed key figures behind Mirror Trading International (MTI) that it intends to impose a fine of $7 million against the now-defunct crypto investment company. Contravention of Financial Sector Law According to a July 6 letter, which has also been sent to the CEO and […]

El Salvador makes Bitcoin payments voluntary in $1.4B IMF loan deal

Africrypt Ponzi Scheme Collapse: South Africa Regulator Says Its ‘Not in a Position to Take Any Regulatory Action’

Africrypt Ponzi Scheme Collapse: South Africa Regulator Says Its ‘Not in a Position to Take Any Regulatory Action’Following Africrypt’s collapse, South African regulator, the Financial Sector Conduct Authority (FSCA), released a statement asserting its lack of jurisdiction over cryptocurrencies. Although the regulator says it is “continuing to investigate complaints” against the crypto investment company, it concedes it has only “found evidence of crypto-asset transactions.” A Large Number of Scams While the FSCA […]

El Salvador makes Bitcoin payments voluntary in $1.4B IMF loan deal

South African Regulator Apologizes to Crypto Firm After Issuing Then Withdrawing a Warning in Less Than 24 Hours

South African Regulator Apologizes to Crypto Firm After Issuing Then Withdrawing a Warning in Less Than 24 HoursSouth Africa’s Financial Sector Conduct Authority (FSCA) has apologized to a Cape Town-based crypto start, Ovex, less than 24 hours after warning that the firm was operating outside the law. Ovex Does Not Require Licence From FSCA In its May 7 retraction, the financial watchdog said the findings of an investigation into Ovex, which specializes […]

El Salvador makes Bitcoin payments voluntary in $1.4B IMF loan deal

MTI CEO and Wife Issued With Provisional Sequestration Order by South African High Court

MTI CEO and Wife Issued With Provisional Sequestration Order by South African High CourtA South African High Court recently served Mirror Trading International (MTI)’s Johann and Nerina Steynberg with a provisional sequestration order. The court’s decision follows a successful court application by the five joint provisional liquidators of the now-defunct online bitcoin scam. Sequestration Not Final According to a report, the order was reportedly served on the Steynbergs’ […]

El Salvador makes Bitcoin payments voluntary in $1.4B IMF loan deal