Bitcoin Ekasi Launches Financial Education Center In South Africa
The center will focus on financial literacy, foundational mathematics and English skills for the youth while providing Bitcoin education to older cohorts.Bitcoin Ekasi, a circular bitcoin economy located in South Africa, has opened the Bitcoin Ekasi Center to provide financial literacy and bitcoin for local youths, entrepreneurs, and businesses, per a release sent to Bitcoin Magazine. Ekasi has already onboarded 10 local businesses to bitcoin in the area. The education center has signed on around 20 youths already in just one week and has a goal of doubling its attendance in the near....
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Updated crypto regulations in South Africa could boost partnerships but potentially marginalize those who need it most, local experts warn. As part of a series of amendments to South Africa’s financial laws, crypto-asset service providers will become accountable institutions. A report from the South African treasury announced further crypto regulations “to be finalized during 2022.”In brief, the proposed changes will ensure that “any person providing advice or intermediary services related to crypto assets must be recognized as a financial services provider under the act and must comply....
Binance has announced that it is terminating some services in South Africa to comply with regulations. This move followed a warning issued by the South African financial regulator that Binance Group was not authorized to give any financial advice or render any intermediary services in the country.
Binance Ceases Some Services in South Africa
Cryptocurrency exchange Binance announced Friday some changes to its offerings in South Africa. Noting that it “constantly evaluates its product and service offerings to comply with local regulations,” Binance said it will....
The South African financial regulator has published a draft declaration of crypto assets as financial products. The regulator says South Africa has experienced “an exponential increase in the provision and use of crypto assets.” South Africa’s Crypto Regulation South Africa’s Financial Sector Conduct Authority (FSCA) announced Friday that it has published “a draft declaration of crypto assets as a financial product under the Financial Advisory and Intermediary Services Act [FAIS].” Comments on the draft declaration can be submitted until Jan. 28, 2021.....
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 Cape Innovation and Technology Initiative (CiTi) has announced it will launch South Africa's first digital currency hub, BitHub. It will serve to be a center point for anyone currently involved in digital currency or interested in learning more. CiTi has already made a name itself in its nearly 20 years of serving the local South African community where it has been a pioneer of new technologies. The nonprofit organizes tech meetups and events, such as a recent virtual reality community gathering, provides resources to developers and runs an incubator for local tech startups."In South....