South Africa Archives - Page 3 of 6

Licences: South Africa weighs 36 VASPs

by 'Femi Michael December 7, 2023

South Africa is weighing issuing licenses to 36 virtual asset service providers (VASPs) later this month, the country’s financial watchdog has revealed. Earlier this year, the Financial Services Conduct Authority (FSCA) revealed that it would require all VASPs in the country to obtain a…

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Regulation: 128 Crypto Asset Service Providers in South Africa File for Licenses

by Crypto Oracle December 1, 2023

As of November 30, 2023, the Financial Sector Conduct Authority (FSCA) of South Africa reports that it had received 128 applications for licenses to operate as crypto asset service providers. The Financial Sector Conduct Authority (FSCA) said in a presentation giving an…

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Fintech Africa: PayCorp, a South African Fintech, Launches CryptoExpress to Simplify Converting Cryptocurrency to Cash (ZAR)

by Crypto Oracle November 30, 2023

PayCorp, a fintech company based in South Africa, has launched CryptoExpress, an app that makes it easier for South Africans to convert cryptocurrencies into cash. With over 3,000 Cash Express ATMs across the country that support cryptocurrencies, users may effortlessly convert their…

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Launch| Prominent Fintech in South Africa, Stitch, Introduces ‘Pay with Crypto’ Solution for Small Businesses

by Crypto Oracle November 29, 2023

Customers can now directly pay with their bitcoin wallets thanks to a new payment option named "Pay with crypto" that South African fintech company Stitch has introduced. This development takes place against the backdrop of cryptocurrencies' rising acceptance in the local market,…

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CRYPTO REGULATIONS IN SOUTH AFRICA: IMPACT ON USERS AND THE ECONOMY

by 'Femi Michael November 28, 2023

Cryptocurrencies have gained significant popularity and attention in South Africa in recent years. With a growing interest from both investors and regulators, it’s crucial to understand the evolving landscape of cryptocurrency regulations in the country. In this Cryptopolitan guide, we will dive…

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LAUNCH | On Xpansiv Immutable Ledger, South Africa Opens the Market for Carbon Credits and Renewable Energy Certificates

by Crypto Oracle November 23, 2023

A new carbon market has been introduced by the Johannesburg Stock Exchange (JSE) in South Africa, enabling local participants to purchase and trade renewable energy certificates and carbon credits. The JSE claims that the market was introduced in association with Xpansiv, a…

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VALR, a prominent South African exchange, has initiated trading of Bitcoin and USDT futures against the South African Rand (ZAR).

by Crypto Oracle November 22, 2023

A perpetual futures trading feature containing the world's first Bitcoin and USDT perpetual futures matched against the South African Rand was introduced by VALR, the largest cryptocurrency exchange by trading volume in Africa. VALR has listed the BTC/USDT perpetual future in addition…

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Launched in Kenya and South Africa, the Telegram Wallet Bot will expand to additional countries in 2024.

by Crypto Oracle November 18, 2023

Wallet, a cryptocurrency trading bot, is launching globally on Telegram Messenger in a number of Latin American and African nations. On November 10, 2023, The Open Platform (TOP), a Dubai-based investment platform connected to TOP Labs and Wallet, announced the Wallet crypto…

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Regulation: In an effort to combat cryptocurrency money laundering, South Africa has adopted the Global Standard Crypto-Asset Reporting Framework (CARF).

by Crypto Oracle November 16, 2023

To strengthen efforts to combat those who utilize cryptocurrency assets to avoid paying taxes and engage in money laundering, South Africa is one of 48 nations or territories that have adopted the Common Reporting Standard. The South African Revenue Service (SARS) said…

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To avoid “enforcement action,” South Africa is cautioning all cryptocurrency exchanges to obtain licenses by November 2023.

by Crypto Oracle November 14, 2023

Should cryptocurrency exchanges persist in operating without a license beyond the deadline, the regulatory body is equipped to implement "enforcement action." This action may involve the imposition of fines or the closure of non-compliant businesses. By the end of 2023, all cryptocurrency…