South Africa warns people against Bitcoin after Bitcoin trial
Hlengani Mathebula of the South African Reserve Bank warns people for the dangers of using and trading Bitcoin. The story of Bitcoin's regulation continues. Today's turn goes to beautiful country South Africa. The government had been talking about Bitcoin for some time now. They even ran a 'Bitcoin trial'. In terms of willingness to accept, we love the idea of a trial. It beats saying no from the start without even considering. Internal testing. The South African Reserve Bank is responsible for considering Bitcoin's regulation. After reviewing the results of the Bitcoin trial, they decided....
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The list of regulators warning that Binance is illegally operating in their jurisdictions continues to grow. The authorities in Singapore and South Africa have become the latest to warn that the global cryptocurrency exchange may be in breach of their local laws.
South Africa’s Financial Sector Conduct Authority Warns Against Binance
The South African financial regulator issued a notice Friday about Binance, stating:
The Financial Sector Conduct Authority (FSCA) warns the public to be cautious and vigilant when dealing with Binance Group as they are not authorised to....
The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments. The trial, led by the Bank for International Settlements, aims to establish whether they can simplify transactions and make them cheaper. Reserve Bank of Australia Teams Up With Counterparts in Asia-Pacific, Africa on CBDC Project While a number of nations are still testing their central bank digital currencies (CBDCs) in domestic applications, some are preparing to conduct international experiments. The Reserve....
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 warned South Africans caught in possession of such banknotes that they risk becoming targets of a criminal investigation. The warning follows what the SARB termed an “increase in the circulation of dye-stained notes in KwaZulu-Natal and Gauteng.”....
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This week, it was reported that South Africa's Standard Bank was running a trial of Switchless' software that allows traditional financial institutions to integrate bitcoin storage, banking, and merchant services. It was unclear as to whether or not this trial would extend to customers, but we're learning now that it will not. A spokesperson for Standard Bank said that the internal trial was exclusive to the bank and limited to 8 individuals of the bank's staff. "No customers participated in the pilot," said the bank. The idea was to try and offer innovative financial solutions to....