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…
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…
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.…
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…
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…
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…
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…
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…
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…
According to a statement obtained by a local station, Standard Bank of South Africa has claimed a 121% increase in the number of offshore accounts created since June 2023. Bank executives claim that customers are looking to diversify their assets internationally in…