South African lawmakers propose draft rules on cross-border crypto transactions
A draft rulebook proposes that sending crypto offshore must be conducted through an authorized provider and be reported to the central bank’s FinSurv.
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Summary
- South Africa’s National Treasury and the South African Reserve Bank are moving towards regulating the use of cryptocurrency for cross-border transactions.
- A draft rulebook proposes that sending crypto offshore must be conducted through an authorized provider and be reported to the central bank’s Financial Surveillance Department.
- The two bodies have invited comments from interested parties with a deadline for submission of Sept. 30.
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Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
Why it matters:
Binance remains crypto’s leading exchange, expanding from spot and derivatives into RWAs, payments, savings, yield, and broader financial services.
