South Africa to regulate cryptocurrency operations
Unlike some other African countries that are against cryptocurrency, South Africa is embrasing the innovation and its authorities are gathering suggestions for cryptocurrency regulation. The outdated National Payment System Act 78 from 1998 will be updated to cover unregulated areas which have emerged with digital financial technology.
The South African Reserve Bank (SARB) and the National Treasury will receive comments until February 2019, despite arguments presented by SARB that regulation of cryptocurrency may affect growth and innovation of the industry.
About author
DW Team
The GIP Digital Watch Observatory team, consisting of over 30 digital policy experts from around the world, excels in the fields of research and analysis on digital policy issues. The team is backed by the creative prowess of Creative Lab Diplo and the technical expertise of the Diplo tech team.