South Africa has taken a conservatively optimistic stance toward cryptocurrencies — balancing development with investor protection.
South Africa News
South Africa has the second largest economy in Africa, with large agricultural and tourism sectors. It also has a high poverty rate and is one of the top 10 countries for income inequality. The South African population is widely diverse and South African news indicates there are numerous racial, cultural and ethnic conflicts. Still, South Africa is considered, potentially, to be one of the most developed African countries in terms of their economy, infrastructure and investment strategies. South Africa haven’t provided any legal status or regulatory framework concerning cryptocurrencies until 2018, when the South African Revenue Service released a statement, saying cryptocurrency would be a taxable object. The South African Reserve Bank is working with blockchain-based solutions provider Bankymoon to test new cryptocurrency regulations.
- Analysis
- News
The Indian government has approved an MOU on the joint research of blockchain technology application under the BRICS Interbank Cooperation Mechanism.
- News
Major banks from BRICS member states; Brazil, Russia, India, China, and South Africa, will study blockchain tech implementation.
- News
A recent study has revealed that South Africans demonstrate a generally positive stance toward cryptocurrencies, with 38 percent of respondents wishing they had...
- News
South Africa’s Central Bank has successfully piloted a Proof-of-Concept for an interbank payment system that tokenizes fiat using an Ethereum-based private bloc...
- News
A major South African investment firm with 180 billion rand ($14.5 bln) under management has revealed that it will launch a cryptocurrency exchange later this y...
- News
South African Police are investigating an alleged crypto ponzi-scheme in which over 28,000 investors are said to have suffered losses exceeding $80 mln.
- News
The Reserve Bank of South Africa has classified cryptocurrencies as “cyber-tokens,” because they don’t conform to the definition of money
- News
The kidnappers of a 13-year-old boy in South Africa have demanded a “non-negotiable” ransom of 15 BTC, worth around $120,000.
- Analysis
Bitcoin and blockchain tech are ripe for mainstream adoption in Africa, where the population is well positioned to embrace the innovative technologies.
- News
The South African Reserve Bank will establish a self-regulatory organization to oversee digital currency and fintech developments.
- Analysis
Singapore is actively experimenting with Blockchain technology to see its true possibilities
- Expert Take
by Selva Ozelli
South African president resigns under cloud of financial scandal that involved several banks.
- Analysis
Just like regulators are starting to take action, the tax man is catching up to the crypto world.
- Adoption
The next wave of mainstream adoption could have the banks and traditional institutions all mulling over cryptocurrencies.
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