Category: South Africa

South African regulators issue fresh crypto investment warning

February 4, 2021

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Authorities in South Africa are warning investors to be wary of scams amid the current crypto bull market. 5868 Total views 20 Total shares South Africa’s Financial Sector Conduct Authority is sounding the cryptocurrency scam alarm once again. In a press release issued on Thursday, the FSCA enjoined the public to do their own due […]

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South Africa’s Tax Agency Is Clamping Down on Crypto Users: Report

February 4, 2021

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The South African Revenue Service is likely “ensnaring” non-compliant taxpayers, a tax consultancy said in a news report. Feb 4, 2021 at 11:43 a.m. UTCUpdated Feb 4, 2021 at 3:08 p.m. UTC South Africa’s Tax Agency Is Clamping Down on Crypto Users: Report The South African Revenue Service (SARS) is reportedly sending taxpayers audit requests, […]

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South African Regulator Seeks More Crypto Powers After Alleged Ponzi Schemer’s Collapse

January 27, 2021

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“At the point something becomes a Ponzi scheme, we have lost our jurisdiction,” a regulator told Bloomberg. Jan 27, 2021 at 2:06 p.m. UTCUpdated Jan 27, 2021 at 2:32 p.m. UTC South African Regulator Seeks More Crypto Powers After Alleged Ponzi Schemer’s Collapse South Africa’s financial market regulator is seeking greater oversight of the cryptocurrency […]

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Liquidators of South African Bitcoin Trading Club Request Greater Probe Powers

January 15, 2021

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Placed under provisional liquidation last month, Mirror Trading had claimed to be able to offer returns of 10% a month using bots to trade clients’ bitcoin. (Havoc/Shutterstock) Jan 15, 2021 at 9:17 a.m. UTCUpdated Jan 15, 2021 at 2:25 p.m. UTC Liquidators of South African Bitcoin Trading Club Request Greater Probe Powers Provisional liquidators are […]

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Crypto Assets in South Africa Would Be Considered Financial Products Under Regulator Proposal

November 21, 2020

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Nov 21, 2020 at 6:32 p.m. UTC Crypto Assets in South Africa Would Be Considered Financial Products Under Regulator Proposal Cryptocurrency assets would be treated like financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act, under a draft declaration by a financial regulator. “The Declaration would have the effect that any person […]

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Can blockchain make a difference? Africa sees vast monetary potential

November 15, 2020

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As technological innovations continue to spread across Africa, the continent could provide some unique use cases for blockchain technology. African has been continually driving innovation in a number of spaces, with mobile payments a prime example of the potential for technology to drastically improve the lives of everyday Africans. While many countries in Africa are […]

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