South Africa working on strict cryptocurrency regulations

According to the government leaked paper of South Africa’s “Intergovernmental Fintech Working Group” (IFWG) 7 to 10% people of South Africa invest online in Bitcoin and other crypto assets.IFWG and South African Reserve bank said that authority of National treasury have to regulate crypto currency and other online investment.The new policy on crytocurrency will strictly monitor every online transaction on nation level.

 

 

 

 

While a financial task force will be formed to work against anti-money laundering and “travel roll”.All international and national financial online businesses have to register with the government to continue their operations.

 

 

 

 

 

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