South Africa Archives - Cryptotimes Africa

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Yellow Card Secures Crypto Asset Service Provider Licence in South Africa

by Terry Kunle November 21, 2024

Yellow Card (www.YellowCard.io), Africa’s leading stablecoin-based infrastructure provider, has been issued a Crypto Asset Service Provider (CASP) licence by the Financial Sector Conduct Authority (FSCA) in South Africa. Commenting on the FSCA’s decision to issue the licence to Yellow Card Financial South…

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Central Banks Are Secretly Mining Crypto Currencies

by 'Femi Michael October 24, 2024

It might sound like a conspiracy, but central banks are almost certainly already buying Bitcoin. Here’s why: Hedging Against Their Own Policies Nearly all countries are up to their ears in debt. Since austerity measures are not politically acceptable, they must find other…

Coins Feature

SARS and FSCA Collaborate to Strengthen Crypto Tax Compliance Efforts

by 'Femi Michael October 14, 2024

SARS is closely working with the Financial Sector Conduct Authority (FSCA) according to its plan to compile information on registered Crypto Asset Service Providers (CASPs). Local crypto exchanges are also obliged to reveal user information, hence strengthening compliance. International cooperation supports this…

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South African Tax Authority Cracks Down on Crypto Investors

by Olawunmi Terry October 12, 2024

The South African Revenue Service (SARS) has intensified its efforts to enforce tax compliance on cryptocurrency holdings. The tax authority is now demanding that taxpayers declare their digital assets, following a similar move by the Federal Internal Revenue Service (FIRS) in Nigeria.…

Feature

Fincra’s Continental Vision: Bridging Africa’s Payment Gap

by Terry Kunle October 11, 2024

Fincra, an African payment infrastructure provider, has achieved a significant milestone in its expansion plans. The company has secured a Third Party Payment Provider (TPPP) licence in South Africa, enabling it to offer its payment solutions to businesses in the country. This…

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South Africa’s Ovex is the First Crypto Exchange to Receive a Notice of Forfeiture from the Central Bank

by Terry Kunle October 11, 2024

In a first, the South Africa Reserve Bank (SARB) has issued a forfeiture notice to a local crypto exchange. According to a local media outlet, SARB issued a notice of forfeiture against a firm called Silver Tiger Trade for more than R5 million…

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LAUNCH | South African DeFi Startup, NeoNomad, Launches ZARCoin Stablecoin Pegged to the South African Rand (ZAR)

by Crypto Oracle July 26, 2024

ZARCoin (ZARC) is a stablecoin that is 1:1 tied to the South African Rand (ZAR), and it was just established by the South African DeFi startup, NeoNomad. This digital currency, which was introduced on July 11th, 2024, aims to close the gap…

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FUNDING | South African Fintech, TurnStay, Raises $300,000 from Web3 Investors, DFS Lab and DCG, After Processing Over $30 Million

by Crypto Oracle July 22, 2024

Fintech company TurnStay, based in South Africa, has raised $300,000 (more than R5.4 million) from investors DFS Lab and Digital Currency Group, based in Silicon Valley and New York. The company intends to build on the considerable traction already attained and use…

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Regulators in South Africa, the FSCA, are pursuing 30 cryptocurrency companies that are operating without licences.

by Crypto Oracle July 8, 2024

Thirty investigations into illicit financial services related to cryptocurrency are presently being conducted in South Africa by the Financial Sector Conduct Authority (FSCA). This is supported by the organization's most recent regulatory activities report, which lists the safeguards in place to allow…

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Introducing: Mama Money, a Fintech Company from South Africa, Introduces a Card Linked to WhatsApp for Payments and Remittances

by Crypto Oracle July 1, 2024

Mama Money, a money transfer company based in South Africa, has joined up with Access Bank and Paymentology, a payment processor, to introduce a new bank card service that incorporates WhatsApp banking. As to a post by Paymentology, the company that issues…