Has crypto become a way for wealthy South Africans to move money offshore and get around exchange controls?
Browsing: Farzam Ehsani
Crypto exchange VALR has partnered with technology payments firm Visa to collaborate on payment solutions.
South African crypto exchange VALR has disclosed that it has processed more than $10-billion in trading volume since its launch.
South Africans with a Luno wallet or VALR Pay will soon be able to use bitcoin to buy their groceries.
The Prudential Authority has issued a “guidance note” to local banks saying they should provide banking facilities to crypto exchanges.
The CEOs of two of the country’s largest crypto exchanges believe the fundamental underpinnings of the industry are still strong, but asset prices may not rebound quickly.
VALR.com, the cryptocurrency exchange co-founded by Farzan Ehsani, has raised more than R750-million in funding at a valuation of about R3.7-billion.
The South African Revenue Service has made it more difficult for taxpayers to get approval on crypto arbitrage trades using their R10-million/year foreign investment allowance.
South Africa’s three largest cryptocurrency exchanges say they have been approached by the South African Revenue Service as part of a tax risk assessment exercise on residents.
Crypto exchange iCE3 said it had been “advised to initiate liquidation proceedings” after suspending all trading on the exchange in March following the discovery of account discrepancies.