Alongside many countries, South Africa has been ironing out its approach to crypto. Last year, the Financial Sector Conduct Authority (FSCA) and the Financial Intelligence Centre (FIC) declared crypto to be a financial product and started registering crypto asset service providers. This year, the country will add stablecoins as a particular type of crypto, the Treasury department’s budget paper said on Wednesday. Stablecoins are digital assets whose value is tied to assets like the U.S. dollar.
Related posts
-
Latam Insights Encore: Brazil’s Stablecoin Remittance Tax Is Doomed From the Start
Welcome to Latam Insights Encore, a deep dive into... -
New Global Dollar Stablecoin Backed by Robinhood, Kraken, Paxos and Other Crypto Heavies
The Global Dollar Network, whose participants will earn yield for helping foster adoption of USDG, also... -
Monetary Authority of Singapore Pushes New Measures to Advance Tokenization
“MAS has seen strong interest in asset tokenization in recent years, notably in fixed income, FX,...