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.
Grocery retailer Pick n Pay is now accepting Bitcoin payments via the Lightning Network nationwide following a three-month testing phase.
Retail giant Pick n Pay to accept Bitcoin in 1,628 stores across South Africa
Cryptocurrency products and services feature in a new clause in South Africa’s code of advertising practice introduced by the Advertising Regulatory Board.
South Africa adds new cryptocurrency standards to advertising code
The central bank governor highlighted that the South African Reserve Bank would rather follow than become a first mover in retail CBDCs.
WEF 2023: CBDCs need to find a ‘real problem’ to solve, says SARB governor
New Year Special
While regulations were once seen as hurdles to crypto adoption, they are now perceived as the fastest way to attain global mainstream adoption.
Crypto regulation world: How laws for digital assets changed in 2022
Founders of Bitcoin Beach El Salavdor, Bitcoin Ekasi in South africa, Dakar Bitcoin Days in Senegal and Global Bitcoin Fest shed light on building Bitcoin commu...
How to build a Bitcoin Beach: Advice from the pros
The company said it will allow customers to pay with any bitcoin lightning-enabled app and QR codes for speedy payments.
South African grocery giant ‘Pick n Pay’ intends to accept Bitcoin in all stores nationwide
Industry insiders believe South Africa’s move to classify cryptocurrencies as financial products could drive the adoption and legitimacy of the sector.
South African crypto landscape primed for TradFi growth after FSCA ruling