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Report: Regulations Governing Tokenized Deposits and Crypto Assets in South Africa Set to Effect in January 2025

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Report: Regulations Governing Tokenized Deposits and Crypto Assets in South Africa Set to Effect in January 2025
Africa
Report: Regulations Governing Tokenized Deposits and Crypto Assets in South Africa Set to Effect in January 2025Regulations governing tokenized deposits and crypto assets are likely to become effective on Jan. 1, 2025, a senior fintech analyst at the South African central bank has revealed. However, according to the analyst, regulators are still trying to understand or learn the risks that come with using distributed ledger technology. Central Bank Considers Appropriateness of […]
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Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

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

South Africa Added to FATF ‘Grey List’ Despite Designation of Crypto as a Financial Product

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South Africa Added to FATF ‘Grey List’ Despite Designation of Crypto as a Financial Product
Africa
South Africa Added to FATF ‘Grey List’ Despite Designation of Crypto as a Financial ProductIn a move seen as a major setback for South Africa, the international financial watchdog, the Financial Action Task Force, announced on Feb. 24 that it had added the country to its “grey list.” Getting grey-listed by the financial watchdog potentially makes it difficult for South Africa to obtain loans from foreign banks. A Setback […]
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Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

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

South African Professor Accuses Central Bank Official of Spreading Misinformation That Damages Crypto Industry

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South African Professor Accuses Central Bank Official of Spreading Misinformation That Damages Crypto Industry
asset class
South African Professor Accuses Central Bank Official of Spreading Misinformation That Damages Crypto IndustryA South African professor, Steven Boykey Sidley, has branded as “balderdash” claims by the South African central bank deputy governor that “90% of cryptocurrency transactions” are illicit. The professor also accused the senior central bank official of spreading inaccurate information that “does immeasurable damage to an important new industry.” Only 0.15% of Crypto Transactions Are […]
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Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

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

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

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South African Crypto Investors and Service Providers Told of Legal and Tax Implications of Central Bank’s Plan
bitcoin.com
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 […]
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Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

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

South African Central Bank Now Considers Cryptocurrency to Be a Financial Asset

Bitcoin.com
South African Central Bank Now Considers Cryptocurrency to Be a Financial Asset
anti-money laundering
South African Central Bank Now Considers Cryptocurrency to Be a Financial AssetThe deputy governor of the South African Reserve Bank (SARB) recently said the institution has changed its position on cryptocurrency, and now regards it to be a financial asset which must be regulated as such. The SARB expects to have a cryptocurrency regulatory framework in place by the end of 2023. A Safer Crypto Ecosystem […]
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Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

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

South African Central Bank Governor: Regulators and Policymakers Must Be Involved in Shaping Potential Move to DLT Markets

Bitcoin.com
South African Central Bank Governor: Regulators and Policymakers Must Be Involved in Shaping Potential Move to DLT Markets
bitcoin.com
South African Central Bank Governor: Regulators and Policymakers Must Be Involved in Shaping Potential Move to DLT MarketsThe head of the South African central bank has insisted that regulators and policymakers should be involved in directing any potential move to markets that are based on distributed ledger technology (DLT). Pondering the Implications of Innovation The governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has argued that central banks, regulators, and […]
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Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

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

South African Central Bank Governor Reiterates: ‘Crypto Is Not Currency’

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South African Central Bank Governor Reiterates: ‘Crypto Is Not Currency’
bitcoin.com
South African Central Bank Governor Reiterates: ‘Crypto Is Not Currency’The governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has reiterated the central bank’s longstanding belief that cryptocurrencies like bitcoin are not currencies. According to Kganyago, crypto-assets, as he prefers to call them, are not currencies because they fail to meet the standard of what constitutes a currency. Crypto and the Currency Test […]
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Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

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

Kenyan Insurance Executive Calls Cryptocurrencies Ponzi Schemes, Warns Users This Will ‘End in Tears’

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Kenyan Insurance Executive Calls Cryptocurrencies Ponzi Schemes, Warns Users This Will ‘End in Tears’
Bitcoin Ponzi scheme
Kenyan Insurance Executive Calls Cryptocurrencies Ponzi Schemes, Warns Users This Will ‘End in Tears’A Kenyan insurance executive, Julius Kipng’etich has compared cryptocurrencies like bitcoin to Ponzi schemes and has urged his countrymen not “touch this.” In addition, Kipng’etich warned those already involved in crypto trading to be prepared for the consequences as this always “ends in tears.” Bitcoin as a Medium of Exchange Interestingly, when addressing attendees of […]
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Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

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

Central Bank Governor: South Africa’s Digital Currency Study Ongoing

Bitcoin.com
Central Bank Governor: South Africa’s Digital Currency Study Ongoing
bitcoin.com
Central Bank Governor: South Africa’s Digital Currency Study OngoingSouth African Reserve Bank (SARB) governor, Lesetja Kganyago, has once again confirmed that the central bank is presently studying the feasibility of issuing a digital currency. In his remarks at the SARB’s annual general meeting, governor Kganyago suggested his organization has embarked on this study to keep abreast with the growing trend of central banks […]
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Indian Official Expresses Doubts About Crypto: ‘I Am Very Skeptical’

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

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