South Africa to regulate crypto as a financial asset
The central bank governor stated that crypto assets would officially be recognised as a financial asset in South Africa within 12 months
By Shashank Bhardwaj
Kuben Naidoo, the Deputy Governor of South Africa Reserve Bank (SARB), announced that SARB plans to adopt legislation next year that would classify and regulate cryptos as financial assets to balance investor safety and innovation.
The announcement came during a webinar held on June 12, where Naidoo shared the news and also shared that the regulations will most likely be released within the next twelve months and will not recognise cryptos as a payment method but as a financial instrument that may also be used in the mainstream sector.
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Terra buys $200 million in AVAX for reservesRead More..
Bitcoin will remain as a standard: Chess world champion Garry KasparovRead More..
Coinbase launches in IndiaRead More..
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Germany closes Russian darknet marketplace HydraRead More..
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Crypto industry reels from $600 million hackRead More..
NFT of Nelson Mandela's arrest warrant auctioned for $130,000Read More..
Bank of England calls for tighter regulation of cryptocurrenciesRead More..
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Cryptocurrencies enter Russia-Ukraine conflictRead More..
Russia seeks to regulate cryptocurrenciesRead More..
Donald Trump's NFT collection to laud his own presidencyRead More..