Currency Economy

South African crypto firms warn opaque regulations are harming the industry

Cryptocurrency (Mar 09, 2021 02:20AM ET) South African crypto firms warn opaque regulations are harming the industry

South African crypto firms warn opaque regulations are harming the industry

South African crypto firms are threatening to move abroad if local lawmakers are unable to provide regulatory clarity to its domestic digital asset industry.

Speaking to Bloomberg, Sean Sanders, the CEO of local crypto investment platform Revix — who plan to relocate their head office to the United Kingdom, described the South African government as being “incredibly slow” in clarifying regulatory guidelines for the crypto industry.

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