FSCA's Commissioner, Unathi Kamlana, says the watchdog will publish the regulatory framework for cryptocurrencies for public comment soon.South Africa is moving closer to a new cryptocurrency regime. The Financial Sector Conduct Authority says it will confirm a new regulatory framework for these assets"shortly", while the banking regulator asked banks to work with crypto exchanges - instead of closing their accounts summarily.
On Wednesday, the Reserve Bank’s Prudential Authority sent a guidance note to local and foreign banks operating locally, raising the issue of banks closing the accounts of crypto asset service providers. This was due to the risk banks face under money laundering regulations because of the lack of formal regulatory requirements for these providers.
The PA pointed out that there is a perception that the accounts of crypto service providers pose a higher risk for laundering money, violating sanctions and supporting other illicit activities.Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.
Source: Digital Coin News (digitalcoinnews.net)
FSCA_ZA how far is the PhalaPhalaFarmGate investigation
Fin24 vile paywall news24 clickbait
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TheCitizen_News - 🏆 6. / 75 Read more »
FSCA orders ANC to settle staff provident fund arrearsRuling party must make monthly payments of R10m until the R86m in accumulated contribution arrears are extinguished 🤡🤡🤡🤡🤡🤡💩💩💩 Do you have any idea on making extra income other than working your ass off like a slave? Working 6 to 9 without getting to spend enough time with your family? Invest now and defeat your financial struggles, invest in Crypto and stocks with the help of Sarah_Elliott5. The ANC is a walking corpse devouring everything in it's way and must be laid to rest ASAP!
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: ewnupdates - 🏆 30. / 53 Read more »
Source: Moneyweb - 🏆 5. / 77 Read more »
FSCA orders ANC to settle staff provident fund arrearsRuling party must make monthly payments of R10m until the R86m in accumulated contribution arrears are extinguished
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: ewnupdates - 🏆 30. / 53 Read more »