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mylesillidge
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Reserve bank wants engagement on cryptocurrency regulation
South African policymakers, legislators and regulators need more engagement with the fintech industry before distributed-ledger technology can be incorporated into the nation's financial markets, according to a new report by the central bank and the Intergovernmental Fintech Working Group.
A distributed ledger is a digital record of transactions and contracts maintained in a decentralised form across different locations. The technology underpins cryptocurrencies such as Bitcoin and is being experimented with in large parts of the global financial system.
South African policymakers, legislators and regulators need more engagement with the fintech industry before distributed-ledger technology can be incorporated into the nation's financial markets, according to a new report by the central bank and the Intergovernmental Fintech Working Group.
A distributed ledger is a digital record of transactions and contracts maintained in a decentralised form across different locations. The technology underpins cryptocurrencies such as Bitcoin and is being experimented with in large parts of the global financial system.