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Two experts have said they welcome South Africa’s planned regulation of cryptocurrency but warned this should not scare away investors. If the regulation is balanced between the need to protect…
Major South African exchanges have welcomed the central bank’s plans to regulate cryptocurrencies as financial assets.
South Africa’s Reserve Bank will regulate cryptocurrencies as financial assets, and new laws are expected over the next 12 months.
The South African Reserve Bank stated further work would be undertaken to study the findings from the project and used to inform policy and regulatory responses to DLT and CBDCs.
One of South Africa’s biggest banks, Standard Bank, has reportedly sent account termination notices to clients that offer automated cryptocurrency arbitrage services. Bank’s Criteria Questioned This move, according to a…