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South African Central Bank Warns Citizens Against Accepting Tainted Banknotes

South African Central Bank Warns Citizens Against Accepting Tainted BanknotesA week after more than 1,400 ATMs in South Africa were attacked during a looting spree, the country’s central bank is now asking citizens to reject banknotes that are stained with traces of blue and green ink. Increasing Circulation of Stained Banknotes According to an EWN report, the South Africa Reserve Bank (SARB) has also […]

Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

South African Regulators Reportedly Fast-Tracking Crypto Regulatory Framework

South African Regulators Reportedly Fast-Tracking Crypto Regulatory FrameworkWith South Africa receiving more than its fair share of cryptocurrency-related scams, a report suggests that regulators are responding to this challenge by fast-tracking the process of creating a new regulatory framework. As a result, regulators now expect this process, which was preceded “by the publication of proposals earlier in June,” to be complete “in […]

Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

South Africa Bank Blocks Clients From Buying Crypto on Binance, Exchange Rejects Allegations

South Africa Bank Blocks Clients From Buying Crypto on Binance, Exchange Rejects AllegationsA South African bank, Absa, has reportedly blocked use of its credit cards for users buying cryptocurrencies on international exchanges, according to one media report. The claims come after clients of the financial institution reported receiving a text message informing them of the suspension of online payments made to leading crypto exchange, Binance. Binance’s Alleged […]

Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

South Africa Working Group Releases New Position Paper Calling for Regulation of Crypto Asset Providers

South Africa Working Group Releases New Position Paper Calling for Regulation of Crypto Asset ProvidersSouth Africa’s Intergovernmental Fintech Working Group (IFWG) has a released new position paper that calls for the regulation of the country’s cryptocurrency ecosystem. In the document, the IFWG, which is a creation of the South Africa Reserve Bank (SARB), recommends “a staged approach to bring crypto-assets within the regulatory remit through the regulation of crypto […]

Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

South Africa Reserve Bank Commences Retail CBDC Feasibility Study

South Africa Reserve Bank Commences Retail CBDC Feasibility StudyThe South African Reserve Bank (SARB) says it has commenced a feasibility study for a general-purpose retail central bank digital currency (CBDC). The study, which the SARB expects to conclude in 2022, will focus on the issuance of a domestic CBDC that can be used by consumers in South Africa for general retail purposes. Study […]

Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’