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3232South Africa Leverages AI to Track Down Tax-Dodging Crypto Traders
https://www.digit.info/south-africa-leverages-ai-to-track-down-tax-dodging-crypto-traders/
Fri, 06 Sep 2024 11:20:02 +0000https://www.digit.info/south-africa-leverages-ai-to-track-down-tax-dodging-crypto-traders/Read more]]>The South African government is tightening its grip on cryptocurrency trading. Tax authorities (SARS) are issuing tax notices and clarifying regulations, likely using AI to identify non-compliant traders. The central bank meanwhile has clarified rules for crypto purchases, allowing individuals limited investment but restricting companies. SARS Using AI to Track Down Tax Dodgers South African […]
]]>South Africa Approves 63 Crypto Asset Service Provider License Applications
https://www.digit.info/south-africa-approves-63-crypto-asset-service-provider-license-applications/
Thu, 04 Jul 2024 11:20:31 +0000https://www.digit.info/2024/07/04/south-africa-approves-63-crypto-asset-service-provider-license-applications/Read more]]>South Africa’s financial services industry regulator announced on July 2 that it had approved an additional 63 crypto asset service provider license applications. The Financial Sector Conduct Authority (FSCA) has received a total of 383 applications, with only five being declined. Notably, the approvals do not mean crypto assets are recognized as a legal form […]
]]>South African Retailer Accepting BTC Sees Significant Increase in Monthly Crypto Transactions
https://www.digit.info/south-african-retailer-accepting-btc-sees-significant-increase-in-monthly-crypto-transactions/
Fri, 14 Jun 2024 08:41:47 +0000https://www.digit.info/2024/06/14/south-african-retailer-accepting-btc-sees-significant-increase-in-monthly-crypto-transactions/Read more]]>The South African retail giant, Pick n Pay, has reported a significant increase in the value of monthly cryptocurrency payments, rising from approximately $1,350 to $54,000. The regions of Gauteng, KwaZulu-Natal, and the Western Cape in South Africa account for the lion’s share of Pick n Pay’s crypto transactions. Retailer Sees More Crypto Transactions in […]
]]>South African Police Nab Alleged Mastermind of Metaverse Ponzi Scheme
https://www.digit.info/south-african-police-nab-alleged-mastermind-of-metaverse-ponzi-scheme/
Fri, 07 Jun 2024 22:51:09 +0000https://www.digit.info/2024/06/07/south-african-police-nab-alleged-mastermind-of-metaverse-ponzi-scheme/Read more]]>Neil Leon De Waal, a key figure in the GS Partners metaverse fraud case, was reportedly arrested by South African law enforcement in late May. He was subsequently released on bail on June 3. Authorities began investigating De Waal following a complaint from one of his victims. The complainant, who lives in Benoni, had to […]
]]>South African Regulator Licenses 75 Institutions as Crypto Asset Service Providers
https://www.digit.info/south-african-regulator-licenses-75-institutions-as-crypto-asset-service-providers/
Wed, 24 Apr 2024 08:37:42 +0000https://www.digit.info/2024/04/24/south-african-regulator-licenses-75-institutions-as-crypto-asset-service-providers/Read more]]>South Africa’s Financial Sector Conduct Authority said on April 22 that it has approved 75 institutions to be licensed as crypto asset service providers (CASPs). The regulator said the unveiling of licensed CASPs is intended to dispel misconceptions arising from the supposedly misleading media reports. FSCA Continues to Receive License Applications The Financial Sector Conduct […]
]]>South African Regulator Set to Issue Licenses to 60 Crypto Platforms by End of March
https://www.digit.info/south-african-regulator-set-to-issue-licenses-to-60-crypto-platforms-by-end-of-march/
Fri, 15 Mar 2024 05:45:53 +0000https://www.digit.info/2024/03/15/south-african-regulator-set-to-issue-licenses-to-60-crypto-platforms-by-end-of-march/Read more]]>A South African regulator has said it plans to issue licenses to 60 crypto platforms by the end of March. The Financial Sector Conduct Authority has said it is still processing the more than 300 applications it received late last year. South African regulators plan to oversee the activities of cryptocurrency entities through the Financial […]
]]>South Africa Regulators to Unveil Document Categorizing Stablecoins as a ‘Particular Type of Crypto Asset’
https://www.digit.info/south-africa-regulators-to-unveil-document-categorizing-stablecoins-as-a-particular-type-of-crypto-asset/
Mon, 26 Feb 2024 09:30:55 +0000https://www.digit.info/2024/02/26/south-africa-regulators-to-unveil-document-categorizing-stablecoins-as-a-particular-type-of-crypto-asset/Read more]]>In 2024, the Intergovernmental Fintech Working Group, a consortium of South African regulators that unveiled a position paper on crypto assets in 2021, is expected to “publish additions to include stablecoins as a particular type of crypto asset.” The consortium is also considering the impact of tokenisation on domestic financial markets and is expected to […]
The South African government is tightening its grip on cryptocurrency trading. Tax authorities (SARS) are issuing tax notices and clarifying regulations, likely using AI to identify non-compliant traders. The central bank meanwhile has clarified rules for crypto purchases, allowing individuals limited investment but restricting companies. SARS Using AI to Track Down Tax Dodgers South African […]
]]>
South Africa’s financial services industry regulator announced on July 2 that it had approved an additional 63 crypto asset service provider license applications. The Financial Sector Conduct Authority (FSCA) has received a total of 383 applications, with only five being declined. Notably, the approvals do not mean crypto assets are recognized as a legal form […]
]]>
The South African retail giant, Pick n Pay, has reported a significant increase in the value of monthly cryptocurrency payments, rising from approximately $1,350 to $54,000. The regions of Gauteng, KwaZulu-Natal, and the Western Cape in South Africa account for the lion’s share of Pick n Pay’s crypto transactions. Retailer Sees More Crypto Transactions in […]
]]>
Neil Leon De Waal, a key figure in the GS Partners metaverse fraud case, was reportedly arrested by South African law enforcement in late May. He was subsequently released on bail on June 3. Authorities began investigating De Waal following a complaint from one of his victims. The complainant, who lives in Benoni, had to […]
]]>
South Africa’s Financial Sector Conduct Authority said on April 22 that it has approved 75 institutions to be licensed as crypto asset service providers (CASPs). The regulator said the unveiling of licensed CASPs is intended to dispel misconceptions arising from the supposedly misleading media reports. FSCA Continues to Receive License Applications The Financial Sector Conduct […]
]]>
A South African regulator has said it plans to issue licenses to 60 crypto platforms by the end of March. The Financial Sector Conduct Authority has said it is still processing the more than 300 applications it received late last year. South African regulators plan to oversee the activities of cryptocurrency entities through the Financial […]
]]>
In 2024, the Intergovernmental Fintech Working Group, a consortium of South African regulators that unveiled a position paper on crypto assets in 2021, is expected to “publish additions to include stablecoins as a particular type of crypto asset.” The consortium is also considering the impact of tokenisation on domestic financial markets and is expected to […]
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