One big thing that impacts crypto trading in South Africa
Cryptocurrency trading activity in South Africa is heavily influenced by whether the price of Bitcoin is going up.
This is according to three major local crypto exchange providers — VALR, Luno, and Altify.
Pick n Pay gets easier Bitcoin payments with VALR and Luno
VALR and Luno have partnered with CryptoConvert to support Bitcoin payments from their apps at all Pick n Pay tills around South Africa.
This comes after CryptoConvert announced in February that its CryptoQR platform was active at all...
VALR launches Solana and Avalanche staking
South African crypto exchange VALR has launched staking, allowing customers to earn up to 5.9% in additional coins on two cryptocurrencies.
Staking lets cryptocurrency owners earn rewards in the form of additional crypto coins by contributing to the...
South Africa starts regulating cryptocurrency exchanges
Finance minister Enoch Godongwana has amended the Financial Intelligence Centre Act (FICA) annexure, designating crypto asset service providers as “accountable institutions”.
The amendment takes effect on 19 December 2022.
FTX loses financial services licence access in South Africa
South African cryptocurrency market maker Ovex has cancelled and removed FTX as a juristic representative, cutting off the international exchange’s access to its local Financial Service Provider (FSP) licence.
“FTX is now unlicensed...
High drama as two crypto titans clash — what it means for Ovex, VALR, Luno in South Africa
In the cryptocurrency world, it’s called whale games.
When two or more large players — “crypto whales” — try to outmanoeuvre each other, the collateral damage doesn’t seem to be a consideration. All that...
South Africa declares cryptocurrency a financial product
Crypto assets are to be treated as financial products in South Africa to make it easier for regulators to monitor the market and help to safeguard consumers.
The Financial Sector Conduct Authority (FSCA) defined crypto assets as "a...
South African cryptocurrency exchange raises R770 million
South African cryptocurrency exchange VALR announced that it had raised $50 million (R770 million) in the continent's largest-ever crypto funding round.
Additionally, the value of the crypto exchange company reached $240 million (R3.7...