South African Authority Sets Date For Crypto Regulation!

cryptocurrenciesis getting popular much faster in developing countries as investors desire extra income.

A senior economist at the South African Reserve Bank gave a clue as to when the ongoing regulatory work will be completed. The official also spoke about central bank digital currency (CBDC) developments.

Speaking to the press, South African MB analyst Gerhard van Deventer announced that tokenized deposit and cryptocurrency regulation will come into effect on an estimated January 1, 2025. Deventer, legislators blockchain He emphasized that it is necessary to evaluate the returns and risks brought by the technology together.

The central bank economist stated that they are conducting various tests to closely experience the benefits and risks of distributed ledger technology. The South African Central Bank is running an experimental process called Project Khokha with commercial banks.

Gerhard van Deventer finally CBDC He referred to his work:

“We have recently completed a study of how much demand and compatibility there is for a digital currency that can be used by citizens. We are continuing our assessments.”

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