South African Reserve Bank Supports Friendly Crypto Operations

Author: Yuvi August 19, 2022

South African Reserve Bank Supports Friendly Crypto Operations


According to the banking regulator, mitigating risk by disconnecting crypto-related consumers could represent a “threat” to financial integrity. The Reserve Bank of South Africa’s Prudential Authority advised its subsidiaries to guard against illegal activity, asking banks not to terminate all links with bitcoin.

It is implied that such an act may pose a high risk in the long term. Prudential Authority CEO Fundi Tshajibana signed the formal notification. Some South African banks have already severed ties with Crypto Asset Service Providers (CASPs), as stated in the letter, due to unclear laws or a high-risk component. Although …

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Author: Yuvi

My name is Yuvi, I work as Sub Editor at newscinema.in

19 August, 2022, 12:06 am

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Friday, 19th August 2022

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