South Africa Plans To Get Crypto Firms In The Country To Apply For License.
Cryptocurrency companies interested in doing business in South Africa will need to apply for a license from the country’s Financial Sector Conduct Authority (FSCA) in the six months starting June 1. While South African crypto companies have welcomed the new…
South African Currency, Rand Falls to New Low Against the Dollar a Day After the US Accused Country of Secretly Supplying Ammunition to Russia
The forex exchange rate of the South African currency Rand, against the dollar fell to a new all-time low of 19.51 units of the rand per dollar on May 12. Rand’s fall happened a day after the African country was…
South Africa’s Minister Cautions BRIC Nation Over Rush For Common Currency.
South Africa’s minister of international relations, Naledi Pandor, has urged Brazil, Russia, India, China and South Africa (BRICS) countries to be wary of making a hurried decision when they meet in August to discuss launching a common currency. Pandor said…
Nigeria Missing As Kenya, South Africa Leads In Global Innovation Index Report 2022.
Mauritius, South Africa, Botswana, Kenya and Morocco, in latest inovative economies global report, ranked far above Nigeria in Africa as countries with the most innovative economies. This is according to the World Intellectual Property Organisation’s (WIPO’s) Global Innovation Index (GII)…
South Africa’s Net Foreign Reserves Hits $54.844 Billion, As The Nation’s Currency Rand Appreciates Against Dollar.
South Africa’s net foreign reserves rose to $54.844 billion in January from $53.827 billion in December, the Reserve Bank said on Tuesday. Gross reserves also increased to $61.864 billion in January from $60.570 billion in December. The forward position, which…
Lagos, Ibadan Leads As Top African Crypto Hubs Among Top 50 Global Crypto Thriving Cities
A recent research released by Recap, a global financial research organisation shows that among the 50 top cities leading in crypto adoption, 6 African cities made the list. Among these African cities, two are Nigeria’s cities; Lagos and Ibadan which…
South Africa Mandates Risk Warnings On Crypto Adverts With New Advert Regulatory Code.
South Africa’s Advertising Regulatory Board (ARB) has included a new clause for the cryptocurrency industry aimed at protecting consumers from unethical advertising. Companies and individuals in South Africa must abide by certain advertising standards pertaining to the provision of cryptocurrency…
South African Hacker Group Stole Millions In Funds From Cloud Platforms To Run Crypto Mining Venture.
In a latest report by cybersecurity firm Unit 42, South Africa based hacker group “Automated Libra” is behind a detailed crypto mining scheme referred to as “ PurpleUrchin”, which has cost major cloud providers, including Microsoft and Salesforce, millions of…
South Africa Digital Only Bank Introduces Crypto Payment Gateway.
Recently, a South African digital-only bank (also known as a “neo bank”), Be Mobile Africa, has reportedly launched a crypto payment gateway that allows merchants to convert digital currency payments to fiat currency. Cédric Jeannot, the CEO of the digital-only…
South Africa Begins Taxation On All Crypto Related Businesses.
The South African government through the lawmakers has added persons operating crypto-related businesses on the list of accountable institutions in relation to the regulatory mandate. According to a Nov. 29 Government Notice, the addition of crypto businesses to this list…