South Africa weighs licenses for 36 VASPs
Of the 128 applications it has received, only 36 had met all the conditions and their licensing would be considered in a meeting on December 12, according to the Financial Services Conduct Authority.
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South Africa joins 47 countries to implement new digital asset taxation standards
South Africa will implement the Crypto-Asset Reporting Framework standard by the OECD, which calls for automatic exchange of tax-relevant information between members.
South Africa’s Mirror Trading BTC scam to pay $1.7B in CFTC case
Mirror Trading allegedly scammed 30,000 BTC from over 23,000 American investors, which it misappropriated, and CFTC imposed restitution of over $1.7 billion.
Only 18% of Africans have owned digital assets: report
The report also revealed that high-earning millennials are the most digital currency-savvy and that poorer countries like Namibia lead digital currency usage in Africa.
Africa’s largest bank wary of digital assets, wants to be a ‘fast follower’
Standard Bank CEO Lungisa Fuzile says that the bank is approaching digital assets cautiously in fear of an implosion, but it will be quick to adapt to a change in the market.
South Africa demands licensing for digital asset exchanges by December
The FSCA says 20 exchanges have submitted applications, including Digital Currency Group-owned Luno, with the new licensing requirement meant to protect investors.
Nigeria leads the world in digital asset awareness at 99%: report
The report says 67% of internet users want to own their data, and 4 in 5 want control over their online identity, with Nigeria, South Africa, and Brazil leading in awareness.
Mirror Trading boss fined over $3B in US over unlawful crypto Ponzi scheme
South African national Steynberg was charged with the offense of operating a multi-level marketing scheme, which stole over 29,421 BTC from thousands of investors.
Africa: Blockchain startups sees 429% surge in funding in 2022
A new report reveals that Africa was the region with the highest growth in blockchain funding, with KuCoin and Scroll.io hitting the unicorn valuation.
Nigeria’s Roqqu exchange secures regulatory nod in South Africa
Roqqu, with 1.4 million users, will allow users to withdraw and deposit South African rand, tapping into one of Africa’s largest digital currency markets.
FATF adds Nigeria, South Africa to dirty money grey list
FATF says Africa’s two largest economies must do better to fight money laundering, with both countries decrying the listing as they’ve made “substantial efforts.”
South Africa agency tackling financial disputes now takes Bitcoin complaints
The FAIS Ombud will consider and resolve complaints relating to digital assets, but only if they happened after October 19, when Bitcoin was legally recognized.