Reserve Bank of South Africa urges crypto should not be cut-off
The Reserve Bank of South Africa provided instructions to its subsidiaries that included a recommendation not to completely shut off contact with cryptocurrencies. The CEO of the Prudential Authority of the Reserve Bank of South Africa, Fundi Tshazibana, signed the official notice. Due to murky rules or a high risk component, certain South African banks […]
South Africa plans to regulate cryptocurrencies as financial assets
The central bank of South Africa wants to implement regulations on the sector and control cryptocurrencies as financial assets within the next 12 months. Deputy Governor of the South Africa Reserve Bank (SARB), Kuben Naidoo, suggested that bitcoin and other cryptocurrencies have several benefits for the financial system. However, he asserted that the sector is […]
Crypto investments for pension funds may be prohibited in South Africa
In terms of cryptocurrency acceptance, South Africa is among the top 20 nations in the world. In addition, for the first time, crypto trading in the country just surpassed $141 million. However, according to a local newspaper, new draft guidelines would prohibit South African pension funds from investing in Bitcoin and other cryptocurrencies. If the […]
Binance replies South Africa regulator on issues of regulation
Binance cryptocurrency exchange has responded to a warning from South Africa’s Financial Sector Conduct Authority by stating that it is in conformity with regulators and is not providing financial advice or services to residents. Binance hinted in a Friday statement that the Financial Sector Conduct Authority , or FSCA, lacked authority because the body did […]
The financial regulator in South Africa issues warning against Binance
The Financial Sector Conduct Authority (FSCA) of South Africa is the latest regulator to warn the populace against the use of Binance stating the exchange is not authorized to operate in the country. Binance Group, an “international firm” based in Seychelles, was not authorized to provide financial services in the country, according to a statement […]