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The South African Reserve Bank has decided to pause the immediate implementation of a digital rand despite successfully testing its technical feasibility. Digital Rand Trials Reveal Privacy and Speed Tradeoffs The South African Reserve Bank (SARB) has no compelling need to immediately launch a digital version of its currency, a top official said, citing significant … Read more
Luno CEO James Lanigan warned that South Africa’s proposed Capital Flow Management Regulations could severely harm the country’s economic competitiveness by restricting stablecoin use. Lanigan Warns of Competitiveness Risk South Africa risks severely undermining its global economic competitiveness if upcoming financial regulations block the use of stablecoins, according to James Lanigan, chief executive officer of … Read more
A South African High Court ruled that bitcoin can be legally treated as “capital” and a “negotiable instrument” (a form of money) because it holds value, is used for speculation, and is accepted by merchants. The Catalyst: Seizure of 1,680 Bitcoins A South African High Court has ruled that bitcoin can be treated as capital … Read more
South African financial regulators have clarified that cryptocurrencies and stablecoins are not legal tender. Crypto Still Excluded From Legal Tender Status South African regulators have reiterated that cryptocurrencies and stablecoins are neither money as defined in the country’s National Payments System Act nor funds, and are therefore not legal tender. In a joint statement, the … Read more
A South African economist warns that the National Treasury’s proposed crypto regulations are an unenforceable attempt at state control that will ultimately backfire. The Push Toward Decentralized Tech South Africa’s continued reliance on exchange controls will push citizens toward cryptocurrencies and stablecoins unless the system is dismantled, Efficient Group director and chief economist Dawie Roodt … Read more
South Africa’s National Treasury and central bank have assured the crypto industry that proposed capital-flow regulations will not criminalize digital asset ownership or apply retrospectively. Modernizing Exchange Controls South Africa’s National Treasury and the South African Reserve Bank have sought to calm growing concern in the crypto industry, saying proposed changes to the country’s capital-flow … Read more
Liquidators of Mirror Trading International, a massive South African crypto pyramid scheme, have received over 9,441 claims totaling nearly $395 million. Shrinking Assets and Rising Legal Costs Liquidators overseeing the collapse of Mirror Trading International (MTI), once described as South Africa’s largest pyramid scheme, have received 9,441 claims totaling nearly $395 million (6.5 billion rands), … Read more
A new report by Discovery Bank and Visa highlights a major shift in South Africa’s financial landscape, as cryptocurrency matures from a speculative trend into a mainstream investment class. Key Takeaways: Discovery Bank and Visa report that 7.8 million South Africans now treat crypto as a mainstream asset class. Middle-income trading grew 26% in 2024, … Read more
Industry leaders and financial experts have issued a sharp rebuke of the South African National Treasury’s Draft Capital Flow Management Regulations 2026, calling the proposal a regressive move that mirrors apartheid-era economic controls. Key Takeaways: National Treasury draft replaces 1961 rules with 2026 digital asset controls despite Sidley’s objections. VALR CEO Ehsani warns of a … Read more
South Africa’s proposed capital flow management regulations 2026 introduce strict new requirements for travelers entering or leaving South Africa with cryptocurrency. Key Takeaways South African Treasury draft rules require visitors to declare crypto or face up to 5 years in prison. New 2026 capital flow laws grant officials invasive powers to search devices for Bitcoin … Read more