South African regulators issue fresh crypto investment warning
Authorities in South Africa are warning investors to be wary of scams amid the current crypto bull market. South Africa’s Financial Sector Conduct Authority is sounding the cryptocurrency scam alarm once again.In a press release issued on Thursday, the FSCA enjoined the public to do their own due diligence before investing in any crypto-related project.According to the FSCA the high-risk nature of the crypto investment space is being further exacerbated by the multitude of elaborate cryptocurrency scams in the country.Indeed, as previously reported by Cointelegraph, the spate of crypto....
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The head of the South African central bank has insisted that regulators and policymakers should be involved in directing any potential move to markets that are based on distributed ledger technology (DLT).
Pondering the Implications of Innovation
The governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has argued that central banks, regulators, and policymakers should and must play a role in “shaping a potential move to DLT-based markets.”
According to Kganyago, these stakeholders can achieve this objective by “pondering the....
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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....