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.
Latest South Africa News
South Africa to stamp out unethical digital asset ads with new advertising rules
South Africa’s ads watchdog worked with industry stakeholders to develop the new clause which requires VASPs to tell users they could lose all their money.
Digital asset adoption, CBDC efforts, new laws and more: Africa’s 2022 in review
Morocco lifted the ban on digital assets, Kenya is now taxing Bitcoin, Nigeria drafted its first law recognizing Bitcoin, Zambia delved into CBDCs and more.
Africa must regulate the digital asset industry, IMF says
IMF says Africa stands at great risk if it fails to rein in its Bitcoin industry—the fastest growing globally—especially for countries making BTC legal tender.
BIS: African central banks pushing for CBDCs, but their motivation differs from other regions
Bank for International Settlements found that payment system efficiency is the key motivator, but unlike other regions, African central banks see CBDCs as a great tool for monetary policy.
South Africa declares digital assets to be financial products
The Financial Sector Conduct Authority now classifies digital assets as digital representations of value built on DLT, the first step towards bringing digital currencies under the country’s laws.
Travel Rule now applies to VASPs in South Africa, but Centbee has been ready for years
The Travel Rule has focused on banks, but a recent amendment has broadened it to include VASPs, and as Centbee revealed, it preempted the rule months ago.
South African Reserve Bank promotes digital assets-friendly behavior from financial institutions
The Prudential Authority, the arm of the SARB that oversees financial institutions, urges banks to adopt a risk assessment approach to virtual assets service providers.
South Africa’s digital assets taxation regime poses challenges to investors, legal expert says
The South African Revenue Service defines digital assets as all items stored on a distributed ledger on decentralized networks, including currency and non-currency assets.
Monero’s Riccardo ‘Fluffypony’ Spagni released from custody in South Africa
The former Monero lead maintainer was extradited to South Africa from the U.S. earlier this month to face over 370 charges of fraud against his former employer.
Monero’s Riccardo Spagni to surrender to South African authorities
In June 2021, Riccardo Spagni was arrested by the U.S. authorities at the request of the South African government. He was charged with 378 counts of fraud and forgery in his home country.
Monero’s Riccardo Spagni charged with 378 charges of fraud and forgery in South Africa
The South African government issued an arrest warrant for the former Monero lead maintainer, who is accused of defrauding $100,000 from his former employer.