South Africa’s Tax Agency Is Clamping Down on Crypto Users: Report

A recent ban imposed by the South Korean National Police Agency will bar particular officers from purchasing additional cryptocurrencies. The announcement coincides with a report revealing a heightened domestic availability of digital coins, in comparison to the global marketplace. South Korea to Penalize National Police Agency Officers Who Fail to Disclose Crypto Holdings Officers with certain investigative and inspective responsibilities have been prohibited from buying additional cryptocurrency. Reporting on the Friday announcement suggests that Korean National Police Agency (KNPA)....

South Africa’s top banker has said that cryptocurrencies are more akin to assets than actual currencies. Lesetja Kganyago, governor of the South African Reserve Bank (SARB), has argued against classifying crypto as currencies.According to a report by MoneyWeb, the central bank chief likened crypto to assets rather than currency during an interactive session at the Wits Business School Leadership Dialogues.According to South Africa’s central bank governor, cryptocurrencies only meet two of the three currency criteria, stating:“A cryptocurrency is a store of value. It is a medium of....

Custos Media Technology, a Bitcoin bounty startup has raised $420,000 in a recent funding round. Custos Media Technologies, a South African company which fights piracy using Bitcoin and blockchain technology, has recently announced a successful fundraising round of $420,000. South Africa’s Technology Innovation Agency (TIA) is the investor in Custos’ latest fundraising round. A prominent startup news media outlet reports that the company will be receiving the raised amount over the next two years. This is the third funding round, amounting to a total of $850,000 till date. Custos Media....

“What we want to be able to do is to intervene when we think that what is provided to potential customers are products that they don’t understand that are potentially highly risky,” said Unathi Kamlana. Unathi Kamlana, the commissioner of South Africa’s Financial Sector Conduct Authority has reportedly said the government’s rollout of a crypto framework would be aimed at mitigating any potential risks.According to a Friday report from Bloomberg, Kamlana said the financial regulator planned to present a regulatory framework early in 2022 intended to protect investors from “potentially....

Styled after the most prominent crypto-currency, Bitcoin, Madibacoin is a South African mobile company’s attempt to enter the fray. Yes, another day, another alt-coin. This time, it is Madibacoin, whose creators are so far only known as “two South African’s with PhD degrees from the University of Pretoria.” Not to be confused with the commemorative version, the Madibacoin can certainly be labeled a Bitcoin clone from a South African mobile marketing company, Mahala Mobile. The name for the new digital coin has been taken from a nickname for South Africa’s late president, Nelson Mandela,....