Crypto asset service providers added to FICA "accountable institutions"

[Jan]

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.

 

[Slowestclock]

Will the effect the local BTC ATMs?

 

[rvZA]

Unfortunately, this will not prevent any losses, decline in Crypto or saving any investment. Each and every provider around the globe suffered losses, along with their clients, when crypto fall, collapse or exchanges crashes and burns.

 

[r00igev@@r]

Whats with this ANC government and hats like the NATs used to wear? Here we have Brown Hat...

 

[Praemon]

This is a positive thing. Good to see government being progressive and opening the door for proper regulation for crypto rather than ignoring it or outright banning. Surprisingly ahead of the curve compared to other countries, and could result in some crypto start ups forming in SA rather than abroad.

 

[grca]

This is a positive thing. Good to see government being progressive and opening the door for proper regulation for crypto rather than ignoring it or outright banning. Surprisingly ahead of the curve compared to other countries, and could result in some crypto start ups forming in SA rather than abroad.

Since when is the government's involvement in anything financial considered good? Everyone would be better off if they simply ignored crypto.

 

[JimboBob]

Whats with this ANC government and hats like the NATs used to wear? Here we have Brown Hat...

Signifies your faction

 

[CartoonFan]

If you don't regulate Crypto it becomes full of scams like MTI, FTX etc.

If you do lose crypto you lose one of its main selling points which is that it's unregulated.

It's a lose-lose

 

[tjma2001]

Will the effect the local BTC ATMs?

Shush.

 

[Pegasus]

Unfortunately, this will not prevent any losses, decline in Crypto or saving any investment. Each and every provider around the globe suffered losses, along with their clients, when crypto fall, collapse or exchanges crashes and burns.

Do you believe the crap you post, or you just posting this off a nutter blog somewhere.