A cryptocurrency exchange and wallet provider that facilitates the buying, selling, and storing of cryptocurrencies.
Rand stablecoin issuers welcome treasury’s crypto rethink
Finance Minister Enoch Godongwana announced a shift in the approach to capital flow management regulations regarding crypto assets. Rand stablecoin issuers, including Zarp and ZAR Supercoin, are pushing for their tokens to be treated as payments rather than capital flows.
Treasury backs down on crypto rules after ‘thousands’ of comments
Finance Minister Enoch Godongwana stated that the National Treasury and Reserve Bank will rewrite draft rules for crypto asset movement after receiving thousands of comments. The new approach will shift from pre-approvals to assessing transactions for legitimacy and tax compliance.
Luno says crypto draft may clash with SA’s IMF commitments
Luno argues that draft regulations treat stablecoin payments inconsistently with South Africa's international commitments. The draft classifies stablecoin payments as capital flows, while payments in dollars through banks are not treated the same.
Major bank joins crypto fight against Reserve Bank draft rules
GoTyme Bank has signed up to the Catastrophe coalition against draft rules restricting cross-border cryptocurrency payments. The coalition argues for consistent regulatory standards for all financial activities, regardless of technology.
Coalition leads public revolt against treasury’s crypto draft
The coalition Catastrophe was formed to oppose draft rules restricting cross-border crypto payments. The draft crypto asset manual was published by the national treasury and Reserve Bank's financial surveillance department.
