Crypto Self-Regulation Deemed Likely in South Africa

The South African Reserve Bank (SARB) has set up a team to monitor fintech developments and assist its efforts to finalize the regulatory regime for cryptocurrencies, Bitcoin.com News is reporting this weekend.  SCROLL DOWN FOR MORE

A “self-regulatory approach” is the most likely in South Africa with a non-government body expected to adopt rules and implement industry standards. The central bank in Pretoria would formulate policy structure should all go according to plan.

“Regulation through self-regulatory organizations may be a more likely solution,” Bridget King, Finance and Banking Practice Director at a leading South African law firm, told the Business Report.

- Aaron Goldstein, Gambling911.com