Currency Economy

South Africa is Realigning Its Crypto Regulations

Cryptocurrency9 minutes ago (Jun 15, 2021 03:00AM ET)South Africa is Realigning Its Crypto RegulationsSouth Africa is Realigning Its Crypto Regulations

  • South Africa realigns its stance on regulating crypto assets.
  • The IFWG proposes 25 recommendations to begin regulating crypto activities.
  • Much like Tanzania, South Africa is prepping to face the crypto space head-on.

South Africa’s Intergovernmental Fintech Working Group (IFWG) just dropped a position paper for regulating crypto assets in the country. This 49-page document highlights a new blueprint that will help the nation regulate digital assets in the future.

South Africa knows that its citizens have already embraced the use of crypto and digital assets. However, it is also aware that the citizens have no legal protection against any fallout from their crypto investments. At Least not till now.

Hence, the IFWG is proposing the position pa…

This article was first published on coinquora.com

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