News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.
    Facebook Twitter Instagram YouTube
    • Politics
    • Business
    • Sports
    • Features
    • Shows
    • Op-Ed
    • Watch Live
    Facebook Twitter Instagram YouTube
    News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.
    Watch Live Tv
    OUR TV SHOWS
    • BREAKFAST CENTRAL
    • VILLAGE SQUARE AFRICA
    • BUSINESS EDGE
    • SECURE THE CONTINENT
    • ONE SLOT
    • POLITICS HQ
    • REPORT DESK AFRICA
    • E CENTRAL
    News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.News Central TV | Latest Breaking News Across Africa, Daily News in Nigeria, South Africa, Ghana, Kenya and Egypt Today.
    You are at:Home»Business News»South Africa Paves Way For Cryptocurrency Regulation
    Business News

    South Africa Paves Way For Cryptocurrency Regulation

    Kehinde GiwaBy Kehinde GiwaOctober 21, 202201 Min Read
    Share Facebook Twitter Pinterest LinkedIn Tumblr Email
    South Africa Paves Way For Cryptocurrency Regulation (News Central TV)
    Share
    Facebook Twitter LinkedIn Pinterest Email

    The continent’s most developed economy may now regulate cryptocurrency after South Africa’s financial authority on Thursday classified them as financial products.

    The declaration follows debates about how to govern digital currencies among financial institutions and regulators worldwide.

    The Financial Sector Conduct Authority (FSCA) has decided that financial firms that deal in cryptocurrencies must apply for licenses between June 1 and November 20 of the following year.

    “You cannot have a situation where you have entities operating outside the regulatory framework, it is not ideal, and certainly not in the public interest,” FSCA Commissioner Unathi Kamlana told a news briefing.

    The crypto asset will be tradable, transferable, or kept electronically “for the purpose of payment, investment,” even if it will not be issued by the central bank.

    Recall, in August, the Central African Republic‘s, C.A.R, High Court declared that it is unconstitutional to purchase “e-residency,” or citizenship and land, using cryptocurrency backed by the government.

    The purchase of citizenship, “e-residency,” and land using a crypto token that the government launched last month was found to be unconstitutional on Monday by the Constitutional Court of the Central African Republic.

    Bitcoin Cryptocurrency Regulation FSCA
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleNigeria: Two Children Drown in Bayelsa Flood
    Next Article Ghanaian Traders Suspend Strike as Currency Woes Worsen
    Kehinde Giwa

    Related Posts

    Kenyans Grapple with Soaring Costs and Distrust

    June 11, 2025

    Bitcoin Fraudsters Hack Paraguay President’s X Account

    June 10, 2025

    African Credit Rating Agency to Begin Operations September

    June 9, 2025
    Add A Comment

    Leave A Reply Cancel Reply

    Latest Stories Today

    Tinubu Honours Buhari for Declaring June 12 Democracy Day

    By Chinomso SundayJune 12, 2025

    President Bola Ahmed Tinubu has praised former President Muhammadu Buhari for his historic decision to…

    Davido Helped Secure My Sony Deal – Mayorkun

    Ohanaeze Demands Justice for Killed Igbo Trader

    Appeal Court Strikes Out Akpabio’s Motions

    • Facebook
    • Twitter
    • Instagram
    • YouTube
    © 2025 Newscentral Television All rights reserved.

    Type above and press Enter to search. Press Esc to cancel.