South African Reserve Bank proposes cryptocurrency regulations

 

South Africa’s proposals aim to focus on both innovation and investor protection.

Abstract:

“The South African Reserve Bank is set to introduce regulations next year that will see cryptocurrencies classed and treated as financial assets to balance investor protection and innovation. South Africa’s National Treasury budget review published in February 2022 formally introduced the move to declare cryptocurrencies as financial products. The nation also plans to enhance the monitoring and reporting of cryptocurrency transactions to comply with exchange regulations in the country.”

22 February 2022

South African Reserve Bank: Proposed cryptocurrency regulations