This week, South African representatives revealed a consultation paper (PDF) regarding cryptocurrency assets. The news was posted via the South African Revenue Service (SARS,) the Financial Intelligence Centre (FIC,) the South African Reserve Bank (SARB,) the National Treasury (NT,) and the Financial Sector Conduct Authority (FSCA,).
The paper was built on top of a foundation established by the Crypto Assets Regulatory Working Group (CARWG.) This group was founded in 2018 in an attempt to enhance the governments’ views on cryptocurrencies. CARWG is made up of officials from SARS and the Intergovernmental FinTech Working Group (IFWG.) However, the IFWG is made up of FSCA, NT, FIC, and SARB.