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SARB appeals court ruling declaring cryptocurrency is not money in South Africa
The South African Reserve Bank (SARB) has applied for leave to appeal a recent court ruling which found that cryptocurrency is not money and doesn’t fall within existing exchange control regulations.
Specifically, it said the Pretoria High Court erred in finding that cryptocurrency is not considered money for the purposes of South Africa’s Exchange Control Regulations (Excon).
The South African Reserve Bank (SARB) has applied for leave to appeal a recent court ruling which found that cryptocurrency is not money and doesn’t fall within existing exchange control regulations.
Specifically, it said the Pretoria High Court erred in finding that cryptocurrency is not considered money for the purposes of South Africa’s Exchange Control Regulations (Excon).