Category: financial asset

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South Africa Added to FATF ‘Grey List’ Despite Designation of Crypto as a Financial Product

February 26, 2023

In a move seen as a major setback for South Africa, the international financial watchdog, the Financial Action Task Force, announced on Feb. 24 that it had added the country to its “grey list.” Getting grey-listed by the financial watchdog potentially makes it difficult for South Africa to obtain loans from foreign banks. A Setback…
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South African Central Bank Now Considers Cryptocurrency to Be a Financial Asset

July 15, 2022

The deputy governor of the South African Reserve Bank (SARB) recently said the institution has changed its position on cryptocurrency, and now regards it to be a financial asset which must be regulated as such. The SARB expects to have a cryptocurrency regulatory framework in place by the end of 2023. A Safer Crypto Ecosystem…
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