The South African Revenue Service has warned taxpayers that they need to disclose details of crypto investments – or else!
Browsing: FSCA
South Africa will license about 60 cryptocurrency platforms by the end of the month.
Nearly 10% of South Africa’s population owns crypto assets, with the figure expected to explode to 43% by 2030.
South Africa is set to adopt a raft of legislative changes over the next three to five years to modernise the regulatory framework for financial institutions.
Companies will need to apply for a licence between 1 June and 20 November 2023 in order to operate legally, the country’s financial conduct regulator said.
The move is meant to make it easier for regulators to monitor the market and help to safeguard consumers.
The South African Reserve Bank is set to bring cryptocurrencies into the regulatory oversight of the Financial Sector Conduct Authority.
South Africa’s financial regulator has warned traders to be “cautious and vigilant” when using FTX Trading Ltd, one of the world’s fastest-growing crypto exchanges.
The mystery around the whereabouts of illusive Mirror Trading International CEO Johann Steynberg has been answered.
South Africa’s financial regulator is planning to unveil a regulatory framework covering cryptocurrencies early next year.