South Africa to introduce crypto regulations

Pedro Gonçalves
clock • 2 min read

South Africa wants to bring order to its nascent cryptocurrency industry in the first quarter of 2020 in a bid to deter users from evading currency controls. The South African Reserve Bank (SARB) said the upcoming rules will primarily put a restriction on the amount of South African rand that can be allowed to be sent outside the country by both individuals and companies. As local business-focused publication Business Report reported , SARB's deputy governor, Kuben Naidoo, said that the new rules will be implemented in the first quarter of 2020, following a five-year-long series of co...

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