South African Exchange Sets New Crypto Withdrawal Limits — Restrictions ‘a Deterrent for Illicit Actors’

One of South Africa’s biggest cryptocurrency exchanges, Luno, has confirmed that it has started restricting withdrawals by clients. The exchange insists the limits are meant to “act as a deterrent for illicit actors moving large amounts of funds within the crypto ecosystem.” Transfers From Luno to Binance Blocked However, despite this acknowledgement, Luno has so […]

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South Africa Proposes New Rules to Regulate Cryptocurrencies, Seeks Alignment With FATF Standards

South Africa Proposes New Rules to Regulate Cryptocurrencies, Seeks Alignment With FATF StandardsSouth Africa is proposing new rules around crypto-assets service providers (CASP) as it seeks to align regulations with standards of the Financial Action Task Force (FAFT). The proposed rules are part of amendments to the Financial Intelligence Centre Act (FICA) that are up for public comment. Finance Minister Tito Mboweni published the proposals in June. […]

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