Two crypto certainties for 2022: regulation and central bank digital currencies

2022/01/18 13:30:00

Luno sees regulation as a long-awaited and positive move for the industry.

Moneyweb, Cryptocurrency

Two trends you can count on for 2022: crypto regulation and the arrival of central bank digital currencies (CBDCs). Moneyweb CryptoCurrency

Luno sees regulation as a long-awaited and positive move for the industry.

Two trends you can count on for 2022: crypto regulation and the arrival of central bank digital currencies (CBDCs).Subscribe Crypto regulation is imminent in South Africa with formal guidelines expected to be introduced before the end of the year, say experts at South Africa’s largest cryptocurrency exchange Luno.NEWS Covid-19 will continue to dominate headlines in 2022, but from national health insurance (NHI) to the availability of a new HIV prevention injection, it will also be an important year for other areas of health service delivery, governance and reforms in South Africa.Win DURBAN, SOUTH AFRICA – AUGUST 28: Tim Swiel of DHL Western Province during the Carling Currie Cup match between Cell C Sharks and DHL Western Province at Jonsson Kings Park on August 28, 2021 in Durban, South Africa.

Also expect to see more formal links between crypto players and financial services companies, according to crypto exchange Luno. “Globally, we have seen moves to regulate crypto and we anticipate the introduction of a clear South African regulatory regime likely by the end of 2022. Regulatory certainty will have a host of positive spin-offs for the crypto sector,” said Marius Reitz, Luno’s general manager for Africa. Regulatory certainty will have a host of positive spin offs for the crypto sector,” says Marius Reitz, Luno’s general manager for Africa. In a country beset by graft and impunity, and where consequence management is often lacking, it was encouraging to see some action in bringing the implicated wrongdoers to book. Local asset managers are working behind the scenes to design crypto products and solutions in anticipation of regulation. In anticipation of local regulations, several asset managers are working behind the scenes to craft crypto products and solutions. Previous attempts to list a Bitcoin ETF (exchange-traded fund) on the local stock exchange have not been successful, but the listing of crypto instruments on the JSE will be a watershed moment that will allow asset managers to enter crypto.

Financial Sector Conduct Authority (FSCA) head of enforcement Brandon Topham tells Moneyweb that regulation is imminent, and somewhat overdue. “Regulation will also boost the number of formal partnerships between banks and crypto companies which will facilitate greater crypto adoption. The review application is continuing in the high court and the SIU, which is opposing the application, had 30 days from November 9 last year to file its opposing affidavit. Read: FSCA working on regulatory framework covering cryptocurrencies Luno says in the US, where some degree of regulation is in place for crypto companies, firms like Fidelity, Goldman Sachs and JP Morgan are entering the crypto market and the ProShares Bitcoin ETF (the world’s first Bitcoin ETF) saw record inflows into the fund. Regulation will also boost the number of formal partnerships between banks and crypto companies, which will facilitate greater crypto adoption. Luno is partnering with such businesses to ensure that customers can enter crypto investments through their trusted financial advisors. Once regulation is finalised, financial advisors will be able to propose crypto products and services to clients. Among them is deputy director-general of health Dr Anban Pillay. Luno is partnering with such businesses to ensure that customers can enter crypto investments through their trusted financial advisors. “Nigeria has launched the e-Naira and South Africa is investigating a digital currency.

Louis van Staden, global head of payments at Luno, expects to see the launch of more central bank digital currencies (CBDCs) in 2022. “Nigeria has launched the e-Naira and South Africa is investigating a digital currency. The focus in the payment space is on seamless, fast and safe ways to buy and sell crypto. The crisis also presents an opportunity to clean house and address the department’s chronic human resource capacity constraints, but – as always – whether this rhetoric will be supported by the appointment of enough suitably qualified and committed professionals remains in doubt. CBDCs are significant because they represent a meeting point between how the technology can be leveraged and a comfortable space for regulators,” he says. Read: A peek into the future of central bank digital currencies SA to participate in BIS central bank digital currency experiment Crypto players will be investigating ways to incorporate familiar tools like cards and mobile money in the crypto ecosystem. “Open banking – where financial institutions share information about customers – is already quite prominent in the UK and Europe. “Open banking, where financial institutions share information about customers, is already quite prominent in the UK and Europe. Yet, in 2022, we are still adjusting the mechanics of the vehicle that must get us there.

It is quick, and information can easily be shared across multiple institutions. Ultimately, systems that make transacting simpler are sure to gain traction. “Ultimately, systems that make transacting simpler are sure to gain traction,” says Van Staden. Cyber security Eva Crouwel, global head of financial crime at Luno, says while customers are quicker to report financial irregularities than in the past, incidents such as ransomware and email interceptions have been on the rise since the advent of Covid. Eva Crouwel, global head of financial crime at Luno, said that more customers are reporting irregularities more quickly and recognising warning signs as awareness campaigns gain traction. After that, the committee is then expected to finalise its report and deliberations on the NHI Bill by April 1. “The shift away from being purely office-bound has its perks, but we are seeing significant vulnerability in corporations, which leads to users being tricked into sharing corporate account information or money,” she says. Europe is becoming more of a financial crime hotspot, with criminals targeting vulnerable and high-net-worth people in France, Italy, Germany and those living in the larger cities in the UK. “The shift away from being purely office-bound has its perks, but we are seeing significant vulnerability in corporations which leads to users being tricked into sharing corporate account information or money,” she said.

“During 2021, the crypto market experienced new all-time highs and also took some brutal hits,” says Luno in a statement. Photo: Rosetta Msimango/Spotlight Until now, public inputs on the bill broadly centred around governance issues, especially relating to the powers of the minister and the administration and transparency of the NHI Fund. “Cryptocurrencies are still a new alternative asset class and ongoing volatility is expected. investment scams targeting vulnerable and high net worth people in France, Italy, Germany and those living in the larger cities in the UK are rife. A longer-term view shows crypto keeps its upward trajectory even with occasional massive price drops.” Read: Crypto will ‘turn the corner in 2022’ jQuery(document). Will government rein in ballooning medicolegal claims? In December last year, the Financial Mail reported figures showing that medicolegal claims against the state had doubled, from R37 billion to R74 billion over the past five years.on('click', 'a[href*="#to-comments"]', function (event) { event.

preventDefault(); jQuery('html, body').animate({ scrollTop: jQuery(jQuery. State law advisor Advocate Ronel van Zyl said:  The discussion paper will serve as a basis for the commission’s further deliberations on the development of a final report with proposed draft legislation.attr(this, 'href')).offset().top }, 500); }); jQuery(document). First introduced in Parliament in 2018, the bill is government’s answer to the ballooning medical negligence claims against departments.

ready(function () { jQuery('img[class*="wp-image-"]').bind('click', function () { jQuery(this.parentElement). Given that a final report from the SA Law Reform Commission is, at best, many months away and that Parliament probably will not finalise any legislation without the final report, we do not expect the State Liability Bill to become law this year.lightBox({ imageLoading:"https://www.moneyweb.

co. A packed filing room at Nseleni CHC near eMpangeni.za/wp-content/themes/moneyweb-domination/images/spinner_moneyweb.gif", imageBtnPrev:"https://www.moneyweb. As the country’s fiscal outlook remains grim, the ripple effect of budget cuts on health sector outcomes will continue.co.

za/wp-content/themes/moneyweb-domination/images/bg_direction_nav.png", imageBtnNext:"https://www. Instead, nurse shortages in South Africa seem set to get worse.moneyweb.co.za/wp-content/themes/moneyweb-domination/images/bg_direction_nav. Briefing MPs last year, the health department’s chief financial officer noted that because the infrastructure indirect grant had been cut by almost 20%, it would have an enormous impact on nationally managed programmes, especially infrastructure projects that would have to be postponed due to limited funding.

png", }) }); function getSelectedText() { if (window.getSelection) { var range=window.getSelection(); return range. It would be a challenge to reach out to all of them, even if the OHSC was required to inspect once every four years.toString() } else { if (document.selection.

createRange) { var range=document. Will HIV prevention injections become available in SA in 2022? Back in November 2020, a landmark study showed that an antiretroviral injection administered every two months was highly effective at preventing HIV infection.selection.createRange(); return range.text } } } function createTweetLink(text, e) { var oldTweetLink=document. Either way, whether the injection reaches our clinics in 2022 provides a perfect test of whether there is any substance to the popular rhetoric of bringing the urgency of Covid-19 to HIV.getElementById("tweetLink"); if (oldTweetLink !=null && typeof oldTweetLink !="undefined") { oldTweetLink.

parentNode.removeChild(oldTweetLink); } if (text==="") return undefined; var newTweetLink=document. There is a tantalising narrative whereby the Omicron variant signals the beginning of the end of the pandemic and a return to “normal” (at least in countries with higher vaccination rates).createElement("a"); newTweetLink.href="https://twitter.com/intent/tweet?text=" + encodeURI(text) +"&url=https://www. As director of the Medical Research Council Professor Glenda Gray said during a department of health media briefing on Friday: This year will teach us whether we’re moving towards a more endemic nature of SARS-CoV-2, but as long as we have ongoing transmission, there’s the possibility of viral evolution, so it will be crucial for us to continue our excellent [genomic] surveillance.

moneyweb.co.za/moneyweb-crypto/two-crypto-certainties-for-2022-regulation-and-central-bank-digital-currencies/&via=Moneyweb"; newTweetLink. 7.id="tweetLink"; newTweetLink.target="_blank"; newTweetLink.

innerHTML=' Tweet'; var appendedTweetLink=document. A TB dashboard launched by the Western Cape department of health last year is making progress in that province easier to track – so far we have seen no similar moves toward greater TB transparency from other provincial departments of health.getElementById("article-body-content").appendChild(newTweetLink); var x=(e.clientX + 5) + 'px', y=(e. There are a few specifics we will be looking out for this year.clientY + 5) + 'px'; jQuery(appendedTweetLink).

css({ "top": y, "left": x }); return newTweetLink; } var textParagraph=document.getElementById("textParagraph"); if (textParagraph) { textParagraph. Second, government should be reporting back on a series of pilot projects looking at the use of X-ray technology to improve TB detection.addEventListener("mouseup", function (e) { tweetLink=createTweetLink(getSelectedText(), e); }, false); } }); .

Read more:
Moneyweb News »

Regulation...is that codeword for the government is getting involved and messing things up?

Cryptocurrency to be regulated in South Africa by the end of 2022: LunoCrypto regulation is imminent in South Africa with formal guidelines expected to be introduced before the end of 2022, say experts at South Africa’s largest cryptocurrency exchange Luno. I wish we had another platform

In-depth: Top 10 health issues to watch in 2022 | CitypressCovid-19 will continue to dominate headlines in 2022, but from national health insurance (NHI) to the availability of a new HIV prevention injection, it will also be an important year for other areas of health service delivery. Majority of us has lost in this trade why very few haven't loss a dime simply because they work with a honest and legit manager LindaStouffes she is the best🙏 I never thought of meeting a legit bitcoin trader after been scammed many times at my age but the heavens sent williamchurch09 guided me and help me make a living through bitcoin with my coinbase app, I recommend you to meet him now and also be a beneficiary of good work I just earned R50,000 trading with Tatiana_Fx_ its unbelievable I know that but it's true and I promised that I would share the good news to everyone I can if it worked for me and that's exactly what am doing now. Give it a try as well Tatiana_Fx_ She's by far the best..

Currie Cup 2022: Round one highlights and resultsCurrie Cup 2022: Round one highlights and results Catch up on the first round of the Currie Cup with video highlights.

Musa Keys to Pabi Cooper: Five amapiano artists to watch in 2022Musa Keys to Pabi Cooper: Five amapiano artists to watch in 2022 Musa Keys and 'Isphithiphiti' hitmaker Pabi Cooper are just two amapiano artists to watch in 2022. Take a look...

In-depth: Top 10 health issues to watch in 2022Covid-19 will continue to dominate headlines in 2022, but from National Health Insurance to the availability of a new HIV prevention injection, it will also be an important year for other areas of health service delivery. I just earned R50,000 trading with Tatiana_Fx_ its unbelievable I know that but it's true and I promised that I would share the good news to everyone I can if it worked for me and that's exactly what am doing now. Give it a try as well Tatiana_Fx_ She's by far the best.. Believe is essential I gave you my trust and you didn't break it, you are who you say you're Michael90078 I'll keep letting people know about your goodness and guarantee business Michael90078 Just say 'as the media we will keep COVID in the news all the times'. For millions of people we have moved on from COVID . Unemployment, inequality and poverty should be the order of the day.

New 2022 Toyota GRMN Yaris is a GR Yaris on steroidsIs the Toyota GR Yaris a bit too tame for your liking? Looking for a little added spice? Well then you will pleased to hear that the Japanese manufacturer is now rolling out a far more hardcore version of this much-loved rally car for the road – the menacing GRMN Yaris Just want to say a very big thank you to Mrs lisamiabtc3 and her company platform for their transparency, I had doubts at first but seeing I got paid I deemed it necessary to share with the general public and to let them know that you can be truly trusted..thank you so much. Good Evening Kindly share my message if you can’t assist 🙏🏾 Can anyone please assist me with taxi fare to school for this week. I’m currently an apprentice busy with my practicals however I’m yet to receive my stipend. My return fare is R55. Contact details 071 950 3434 I have just watched the GR Yaris vs Golf 8 it is faster that Golf 8 by a few seconds.

Two trends you can count on for 2022: crypto regulation and the arrival of central bank digital currencies (CBDCs).Subscribe Crypto regulation is imminent in South Africa with formal guidelines expected to be introduced before the end of the year, say experts at South Africa’s largest cryptocurrency exchange Luno.NEWS Covid-19 will continue to dominate headlines in 2022, but from national health insurance (NHI) to the availability of a new HIV prevention injection, it will also be an important year for other areas of health service delivery, governance and reforms in South Africa.Win DURBAN, SOUTH AFRICA – AUGUST 28: Tim Swiel of DHL Western Province during the Carling Currie Cup match between Cell C Sharks and DHL Western Province at Jonsson Kings Park on August 28, 2021 in Durban, South Africa.

Also expect to see more formal links between crypto players and financial services companies, according to crypto exchange Luno. “Globally, we have seen moves to regulate crypto and we anticipate the introduction of a clear South African regulatory regime likely by the end of 2022. Regulatory certainty will have a host of positive spin-offs for the crypto sector,” said Marius Reitz, Luno’s general manager for Africa. Regulatory certainty will have a host of positive spin offs for the crypto sector,” says Marius Reitz, Luno’s general manager for Africa. In a country beset by graft and impunity, and where consequence management is often lacking, it was encouraging to see some action in bringing the implicated wrongdoers to book. Local asset managers are working behind the scenes to design crypto products and solutions in anticipation of regulation. In anticipation of local regulations, several asset managers are working behind the scenes to craft crypto products and solutions. Previous attempts to list a Bitcoin ETF (exchange-traded fund) on the local stock exchange have not been successful, but the listing of crypto instruments on the JSE will be a watershed moment that will allow asset managers to enter crypto.

Financial Sector Conduct Authority (FSCA) head of enforcement Brandon Topham tells Moneyweb that regulation is imminent, and somewhat overdue. “Regulation will also boost the number of formal partnerships between banks and crypto companies which will facilitate greater crypto adoption. The review application is continuing in the high court and the SIU, which is opposing the application, had 30 days from November 9 last year to file its opposing affidavit. Read: FSCA working on regulatory framework covering cryptocurrencies Luno says in the US, where some degree of regulation is in place for crypto companies, firms like Fidelity, Goldman Sachs and JP Morgan are entering the crypto market and the ProShares Bitcoin ETF (the world’s first Bitcoin ETF) saw record inflows into the fund. Regulation will also boost the number of formal partnerships between banks and crypto companies, which will facilitate greater crypto adoption. Luno is partnering with such businesses to ensure that customers can enter crypto investments through their trusted financial advisors. Once regulation is finalised, financial advisors will be able to propose crypto products and services to clients. Among them is deputy director-general of health Dr Anban Pillay. Luno is partnering with such businesses to ensure that customers can enter crypto investments through their trusted financial advisors. “Nigeria has launched the e-Naira and South Africa is investigating a digital currency.

Louis van Staden, global head of payments at Luno, expects to see the launch of more central bank digital currencies (CBDCs) in 2022. “Nigeria has launched the e-Naira and South Africa is investigating a digital currency. The focus in the payment space is on seamless, fast and safe ways to buy and sell crypto. The crisis also presents an opportunity to clean house and address the department’s chronic human resource capacity constraints, but – as always – whether this rhetoric will be supported by the appointment of enough suitably qualified and committed professionals remains in doubt. CBDCs are significant because they represent a meeting point between how the technology can be leveraged and a comfortable space for regulators,” he says. Read: A peek into the future of central bank digital currencies SA to participate in BIS central bank digital currency experiment Crypto players will be investigating ways to incorporate familiar tools like cards and mobile money in the crypto ecosystem. “Open banking – where financial institutions share information about customers – is already quite prominent in the UK and Europe. “Open banking, where financial institutions share information about customers, is already quite prominent in the UK and Europe. Yet, in 2022, we are still adjusting the mechanics of the vehicle that must get us there.

It is quick, and information can easily be shared across multiple institutions. Ultimately, systems that make transacting simpler are sure to gain traction. “Ultimately, systems that make transacting simpler are sure to gain traction,” says Van Staden. Cyber security Eva Crouwel, global head of financial crime at Luno, says while customers are quicker to report financial irregularities than in the past, incidents such as ransomware and email interceptions have been on the rise since the advent of Covid. Eva Crouwel, global head of financial crime at Luno, said that more customers are reporting irregularities more quickly and recognising warning signs as awareness campaigns gain traction. After that, the committee is then expected to finalise its report and deliberations on the NHI Bill by April 1. “The shift away from being purely office-bound has its perks, but we are seeing significant vulnerability in corporations, which leads to users being tricked into sharing corporate account information or money,” she says. Europe is becoming more of a financial crime hotspot, with criminals targeting vulnerable and high-net-worth people in France, Italy, Germany and those living in the larger cities in the UK. “The shift away from being purely office-bound has its perks, but we are seeing significant vulnerability in corporations which leads to users being tricked into sharing corporate account information or money,” she said.

“During 2021, the crypto market experienced new all-time highs and also took some brutal hits,” says Luno in a statement. Photo: Rosetta Msimango/Spotlight Until now, public inputs on the bill broadly centred around governance issues, especially relating to the powers of the minister and the administration and transparency of the NHI Fund. “Cryptocurrencies are still a new alternative asset class and ongoing volatility is expected. investment scams targeting vulnerable and high net worth people in France, Italy, Germany and those living in the larger cities in the UK are rife. A longer-term view shows crypto keeps its upward trajectory even with occasional massive price drops.” Read: Crypto will ‘turn the corner in 2022’ jQuery(document). Will government rein in ballooning medicolegal claims? In December last year, the Financial Mail reported figures showing that medicolegal claims against the state had doubled, from R37 billion to R74 billion over the past five years.on('click', 'a[href*="#to-comments"]', function (event) { event.

preventDefault(); jQuery('html, body').animate({ scrollTop: jQuery(jQuery. State law advisor Advocate Ronel van Zyl said:  The discussion paper will serve as a basis for the commission’s further deliberations on the development of a final report with proposed draft legislation.attr(this, 'href')).offset().top }, 500); }); jQuery(document). First introduced in Parliament in 2018, the bill is government’s answer to the ballooning medical negligence claims against departments.

ready(function () { jQuery('img[class*="wp-image-"]').bind('click', function () { jQuery(this.parentElement). Given that a final report from the SA Law Reform Commission is, at best, many months away and that Parliament probably will not finalise any legislation without the final report, we do not expect the State Liability Bill to become law this year.lightBox({ imageLoading:"https://www.moneyweb.

co. A packed filing room at Nseleni CHC near eMpangeni.za/wp-content/themes/moneyweb-domination/images/spinner_moneyweb.gif", imageBtnPrev:"https://www.moneyweb. As the country’s fiscal outlook remains grim, the ripple effect of budget cuts on health sector outcomes will continue.co.

za/wp-content/themes/moneyweb-domination/images/bg_direction_nav.png", imageBtnNext:"https://www. Instead, nurse shortages in South Africa seem set to get worse.moneyweb.co.za/wp-content/themes/moneyweb-domination/images/bg_direction_nav. Briefing MPs last year, the health department’s chief financial officer noted that because the infrastructure indirect grant had been cut by almost 20%, it would have an enormous impact on nationally managed programmes, especially infrastructure projects that would have to be postponed due to limited funding.

png", }) }); function getSelectedText() { if (window.getSelection) { var range=window.getSelection(); return range. It would be a challenge to reach out to all of them, even if the OHSC was required to inspect once every four years.toString() } else { if (document.selection.

createRange) { var range=document. Will HIV prevention injections become available in SA in 2022? Back in November 2020, a landmark study showed that an antiretroviral injection administered every two months was highly effective at preventing HIV infection.selection.createRange(); return range.text } } } function createTweetLink(text, e) { var oldTweetLink=document. Either way, whether the injection reaches our clinics in 2022 provides a perfect test of whether there is any substance to the popular rhetoric of bringing the urgency of Covid-19 to HIV.getElementById("tweetLink"); if (oldTweetLink !=null && typeof oldTweetLink !="undefined") { oldTweetLink.

parentNode.removeChild(oldTweetLink); } if (text==="") return undefined; var newTweetLink=document. There is a tantalising narrative whereby the Omicron variant signals the beginning of the end of the pandemic and a return to “normal” (at least in countries with higher vaccination rates).createElement("a"); newTweetLink.href="https://twitter.com/intent/tweet?text=" + encodeURI(text) +"&url=https://www. As director of the Medical Research Council Professor Glenda Gray said during a department of health media briefing on Friday: This year will teach us whether we’re moving towards a more endemic nature of SARS-CoV-2, but as long as we have ongoing transmission, there’s the possibility of viral evolution, so it will be crucial for us to continue our excellent [genomic] surveillance.

moneyweb.co.za/moneyweb-crypto/two-crypto-certainties-for-2022-regulation-and-central-bank-digital-currencies/&via=Moneyweb"; newTweetLink. 7.id="tweetLink"; newTweetLink.target="_blank"; newTweetLink.

innerHTML=' Tweet'; var appendedTweetLink=document. A TB dashboard launched by the Western Cape department of health last year is making progress in that province easier to track – so far we have seen no similar moves toward greater TB transparency from other provincial departments of health.getElementById("article-body-content").appendChild(newTweetLink); var x=(e.clientX + 5) + 'px', y=(e. There are a few specifics we will be looking out for this year.clientY + 5) + 'px'; jQuery(appendedTweetLink).

css({ "top": y, "left": x }); return newTweetLink; } var textParagraph=document.getElementById("textParagraph"); if (textParagraph) { textParagraph. Second, government should be reporting back on a series of pilot projects looking at the use of X-ray technology to improve TB detection.addEventListener("mouseup", function (e) { tweetLink=createTweetLink(getSelectedText(), e); }, false); } }); .