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.”
Latest South African Reserve Bank News
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 completes second phase of wholesale CBDC trials
Project Khokha 2 involved the country’s top banks, which experimented on a wCBDC for interbank payments settlement, but SARB says results are still inconclusive.
Bitcoin not a currency? South African central bank governor thinks so
The governor of the South African Reserve Bank claimed digital currencies don’t meet the 3 criteria that define a currency as he advocated for regulations.
South Africa central bank launches feasibility study for retail CBDC
The South African Reserve Bank has launched a study on the feasibility of a central bank digital currency (CBDC) as “complementary to cash.”
South Africa to introduce crypto regulations in Q1 2019
The South African Reserve Bank is set to implement regulations to govern crypto in Q1 next year, completing a process started in 2014.