More engagement with the fintech industry is needed before distributed ledger technology can be incorporated into South Africa’s financial markets, according to a new report.
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South Africa has laid the foundation for finance watchdogs to set crypto-asset controls as the nation seeks to curb growing cases of fraud and improve the management of cross-border flows.
The Interdepartmental Fintech Working Group has just released a draft of its policy position paper on crypto assets. Proposals aim to severely limit anonymous transactions in online.