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.
The operator of an alleged seven-figure crypto scam appears to have fled the country of South Africa for Mozambique.
Operator of Alleged Crypto Scam Flees South Africa for Mozambique
Crypto adoption appears to be growing across the continent of Africa.
Africa Is Experiencing a Crypto Renaissance
According to a new report, African nations have the highest rates of cryptocurrency adoption throughout the world.
Report: Africa Is Bullish on Crypto Despite Infrastructure and Regulatory Hurdles
In yet another expansion initiative, Binance adds support for deposits and withdrawals in South African rand.
Binance Now Supports Deposits and Withdrawals in South African Rand
Blockchain technology could help the African gold industry boost the continent’s economic growth, even during the coronavirus pandemic.
African Gold’s Position Amid the Global COVID-19 Crisis
In its most recent position paper, the IFWG labeled crypto as a possible (but unlikely) threat to South Africa's monetary system.
ZA Group Says Crypto Not Likely to Be a Threat to Monetary System
A South African team is building a blockchain-powered COVID-19 status verification app, using a different approach to Russian, Chinese solutions.
Coronavirus-Tracking Apps Take Different Approaches in Keeping People Safe