South Africans can now spend cryptocurrency directly at more than 650 000 Scan to Pay-enabled stores nationwide.
Browsing: Luno
South Africans are spending R2-million/month in cryptocurrency through Luno Pay alone, developer Luno said on Tuesday.
Regulators must work to position South Africa as a competitive player in the fast-evolving world of crypto.
Crypto exchange Luno says this classification will lead to increased institutional investment and greater tax collection.
Despite the regulators’ fascination with new technologies, local banks seem to remain fairly cautious about their adoption.
Pick n Pay customers are buying more than R1-million worth of groceries using crypto monthly, a new report has revealed.
Crypto platforms have encouraged traders to embrace the South African Revenue Service’s new disclosure process.
South Africa will license about 60 cryptocurrency platforms by the end of the month.
One bitcoin now costs R1-million, nearly equalling the record high price (in rand terms) set in 2021.
Most companies that have applied for crypto licences in South Africa are already registered as financial service providers.