South African regulator plans to crack down on Bitcoin

rpm

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South Africa to crack down on Bitcoin

South Africa’s finance-industry regulator wants more power to prosecute perpetrators of fraud and oversee dealing in cryptocurrencies after the collapse of a Bitcoin trader, alleged to be the country’s largest Ponzi scheme.
 

upup

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the secret is in the words, more power, they want power. What to do with it, they don't know.
 

Swa

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Can we stop with these click bait headlines. There is no cracking down but it seems every other day mybb has to come up with a new headline around the same old regulation.
 
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What a joke. Why couldn't MTI get a license for using ZAR, yet it could use BTC? Because our moronic government chose not to recognise crypto as money.

Well done government, you failed your people (again), in your attempt to discredit the future of global finance. You GENIUSES!

P. S. Stupid click-bait heading.
 
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NarrowBandFtw

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What a joke. Why couldn't MTI get a license for using ZAR, yet it could use BTC? Because our moronic government chose not to recognise crypto as money
you think MTI would have bothered applying for any kind of license?

not like they were actually trading in anything and AFAIK there is no "ponzi license" to apply for
 

Swa

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What a joke. Why couldn't MTI get a license for using ZAR, yet it could use BTC? Because our moronic government chose not to recognise crypto as money.

Well done government, you failed your people (again), in your attempt to discredit the future of global finance. You GENIUSES!

P. S. Stupid click-bait heading.
I'm confused. In the other thread you're against regulating crypto. Now you want it regulated so people can't use it in scams.
 
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I'm confused. In the other thread you're against regulating crypto. Now you want it regulated so people can't use it in scams.
Er... where exactly do you see me calling for crypto regulation?

I said "recognise as money", not "regulate". Not even remotely the same thing!
 

saor

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Er... where exactly do you see me calling for crypto regulation?

I said "recognise as money", not "regulate". Not even remotely the same thing!
I don't think anyone is understanding the point you were trying to make.
 
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Lol. What does recognise as money mean?
Why don't you go and read the SARB Position Paper on Virtual Currencies, specifically but not limited to article 3.2.4, and then you may actually start to sound like you know what you're talking about instead of like a rebellious teen with a default contrarian attitude?

Stop wasting my time.
 

Speedster

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Why don't you go and read the SARB Position Paper on Virtual Currencies, specifically but not limited to article 3.2.4, and then you may actually start to sound like you know what you're talking about instead of like a rebellious teen with a default contrarian attitude?

Stop wasting my time.
Maybe you should grow up. I bought R200m in crypto internationally over the last 18 months, I know that position paper very well.
 
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If you'd read that paper, then how could you still be asking that question? Just goes to show: money can't buy brains.
 
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