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A week after more than 1,400 ATMs in South Africa were attacked during a looting spree, the country’s central bank is now asking citizens to reject banknotes that are stained with traces of blue and green ink. Increasing Circulation of Stained Banknotes According to an EWN report, the South Africa Reserve Bank (SARB) has also … Read more
With South Africa receiving more than its fair share of cryptocurrency-related scams, a report suggests that regulators are responding to this challenge by fast-tracking the process of creating a new regulatory framework. As a result, regulators now expect this process, which was preceded “by the publication of proposals earlier in June,” to be complete “in … Read more
A South African bank, Absa, has reportedly blocked use of its credit cards for users buying cryptocurrencies on international exchanges, according to one media report. The claims come after clients of the financial institution reported receiving a text message informing them of the suspension of online payments made to leading crypto exchange, Binance. Binance’s Alleged … Read more
South Africa’s Intergovernmental Fintech Working Group (IFWG) has a released new position paper that calls for the regulation of the country’s cryptocurrency ecosystem. In the document, the IFWG, which is a creation of the South Africa Reserve Bank (SARB), recommends “a staged approach to bring crypto-assets within the regulatory remit through the regulation of crypto … Read more
The South African Reserve Bank (SARB) says it has commenced a feasibility study for a general-purpose retail central bank digital currency (CBDC). The study, which the SARB expects to conclude in 2022, will focus on the issuance of a domestic CBDC that can be used by consumers in South Africa for general retail purposes. Study … Read more
About 150 mountain bikers will compete at this year’s edition of the Munga MTB race in South Africa. The race will commence in the first week of December. The top three finishers in each category will share the 1.5 bitcoin in prize money. The Bitstamp sponsored race was launched in 2015. Bikers from South Africa, … Read more
It’s said that nothing in this world is certain, except death and taxes. And at least for the latter we can be sure that the powers-that-be are not going to let this change without a fight. The latest country now known to be looking at taxing bitcoin trading is South Africa. Also Read: Tax Investigators … Read more
