South African Reserve Bank: Crypto Asset Friendly, but Bitcoin Is Not Money198

South Africa’s reserve bank released a consultation paper that includes favorable recommendations and guidelines for the crypto asset industry in the country. However, the agency is not looking to treat Bitcoin and other digital currencies as ‘currency.’

On Jan. 16th, The South African Reserve Bank (SARB) released “Consultation Paper on Policy Proposals for Crypto Assets,” which goes over the agency’s recommendations and regulatory guidelines for crypto assets and businesses using these assets. Note that the paper is not official legislation; rather, it opens the dialogue with the public allowing them to comment on a proposed regulatory framework.

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