South Africa News

CFTC fines South African CEO $3.4B over Bitcoin MLM scheme

The case represents the CFTC's highest civil fine and largest Bitcoin fraud case.

South African regulator mandates crypto ad risk warnings

South Africa's ARB has urged crypto ads providers to warn that investing in crypto assets may result in loss of capital.

South Africa deems cryptocurrency a ‘financial product’

South Africa's financial regulator, The Financial Sector Conduct Authority (FSCA) defined crypto assets as a 'financial product' subject to the same regulatory oversight as company shares, debt and any money-making instrument.

South African central bank mulls digital rand to streamline cross-border payments

South African central bank's Deputy Governor Kuben Naidoo said a digital rand could reduce the cost of cross-border payments for banks.

47% of South Africans own Bitcoin (BTC), holding $70 worth on average

47% of South Africans hold BTC, majority of them hold around $70 worth of the asset.

South African Reserve Bank: Crypto Asset Friendly, but Bitcoin Is Not Money