South Africa – DIGIT INFO

South African Reserve Bank Backs Payshap Over Digital Rand as Cassim Targets Real-Time Payments

DIGIT — Thu, 11 Jun 2026 11:30:19 +0000

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 […]

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Luno CEO James Lanigan Warns $33T Stablecoin Boom Could Bypass South Africa

DIGIT — Thu, 11 Jun 2026 10:30:39 +0000

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 […]

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Trader Loses 1,680 BTC Fight as South African Court Classifies Bitcoin as Capital

DIGIT — Tue, 02 Jun 2026 22:14:05 +0000

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 […]

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South Africa Rules out Foreign Stablecoins as Payment Tools to Curb Dollarization

DIGIT — Tue, 02 Jun 2026 08:30:26 +0000

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 […]

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Economist Dawie Roodt Warns South Africans May Drop Local Currency as Crypto Rules Tighten

DIGIT — Wed, 27 May 2026 04:30:52 +0000

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 […]

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South African Treasury Extends Crypto Rule Deadline to June 30 After Backlash

DIGIT — Thu, 21 May 2026 05:30:41 +0000

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 […]

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MTI Liquidators Face 9,441 Claims as $35.8M Estate Shrinks Before Payouts

DIGIT — Thu, 14 May 2026 21:02:22 +0000

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), […]

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From Speculation to Stability: Discovery Bank Report Reveals 7.8M South Africans Now Invest in Crypto

DIGIT — Mon, 27 Apr 2026 09:30:25 +0000

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, […]

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South Africa Crypto Draft Triggers 1M Rand Fine Warning From Valr CEO

DIGIT — Sun, 26 Apr 2026 04:50:53 +0000

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 […]

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Declare Your Crypto or Face Jail: South Africa’s Aggressive New Capital Flow Rules

DIGIT — Thu, 23 Apr 2026 17:30:25 +0000

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 […]

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