-1.75% Bitcoin (BTC) 91684.2 EUR
-1.46% Ethereum (ETH) 3308.53 EUR
-1.60% Litecoin (LTC) 77.29 EUR
-6.12% B-Cash (BCH) 411.1 EUR
+0.38% Ethereum (ETH) 0.0364711 BTC
+0.35% Litecoin (LTC) 0.00085345 BTC
-4.59% B-Cash (BCH) 0.00448743 BTC
-2.21% Bitcoin (BTC) 107823.358 USDC
+0.50% USD Coin (USDC) 0.85 EUR
-3.72% Chainlink (LINK) 14.49 EUR
-1.89% Chainlink (LINK) 0.00015861 BTC
-1.38% Dogecoin (DOGE) 0.16 EUR
+0.57% Dogecoin (DOGE) 0.00000176 BTC
-3.08% Uniswap (UNI) 5.32 EUR
-1.70% Uniswap (UNI) 0.00005807 BTC
-2.75% Cardano (ADA) 0.54 EUR
-0.83% Cardano (ADA) 0.00000596 BTC
-1.08% Tron (TRX) 0.27 EUR
+0.68% Tron (TRX) 0.00000295 BTC
-1.61% Shiba Inu (SHIB) 0.00000854 EUR
-1.72% Zcash (ZEC) 183.27 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
-2.87% Arbitrum (ARB) 0.3071 USDC
-4.30% Chainlink (LINK) 16.7 USD
-4.05% Chainlink (LINK) 16.69964 USDC
-3.87% Uniswap (UNI) 6.124 USDC
-0.94% Ondo (ONDO) 0.61 EUR
-1.64% Ondo (ONDO) 0.71277 USDC
-2.63% Gala (GALA) 0 EUR
-3.23% Gala (GALA) 0.01076 USDC
-2.62% Wormhole Token (W) 0.06 EUR
-3.03% Wormhole Token (W) 0.0735 USDC
-0.73% Chiliz (CHZ) 0.02 EUR
-1.64% Chiliz (CHZ) 0.03286 USDC
-1.07% Sand (SAND) 0.17 EUR
-1.84% Sand (SAND) 0.2022 USDC
-5.08% Aave (AAVE) 180.4 EUR
-5.55% Aave (AAVE) 208.62 USDC
-3.89% Curve DAO (CRV) 0.44 EUR
-4.41% Curve DAO (CRV) 0.517 USDC
-2.21% Immutable X (IMX) 0.43 EUR
-3.03% Immutable X (IMX) 0.5021 USDC
0.00% Skale (SKL) 0.07 USDC
-3.65% Beam (BEAM) 0 EUR
-4.59% Beam (BEAM) 0.00517 USDC
0.00% Axelar (AXL) 1.05 USDC
-0.81% Livepeer Token (LPT) 4.24 EUR
-1.33% Livepeer Token (LPT) 4.943 USDC
-0.91% Compound (COMP) 29.13 EUR
-1.71% Compound (COMP) 33.78 USDC
-5.28% Coti (COTI) 0.02 EUR
-5.38% Coti (COTI) 0.0334 USDC
0.00% Portal (PORTAL) 1.1 USDC
-3.59% Sushi (SUSHI) 0.44 EUR
-3.68% Sushi (SUSHI) 0.5151 USDC
-2.53% Pepe (PEPE) 0 EUR
-2.89% Pepe (PEPE) 0.00000671 USDC
-1.51% Optimism (OP) 0.36 EUR
0.00% Polygon (MATIC) 0.2 EUR
-1.20% Solana (SOL) 157.6 EUR
+0.14% Solana (SOL) 0.0017141 BTC
+0.17% Solana (SOL) 0.047631 ETH
+0.18% USD Coin (USDC) 0.74 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY
0.00% USD Coin (USDC) 4.25 PLN
0.00% USD Coin (USDC) 10.93 SEK

South African Reserve Bank encourages friendly behavior with crypto

08-19-2022

The Prudential Authority of the Reserve Bank of South Africa sent out guidelines to its subsidiaries in an effort to prevent illicit activities, encouraging banks not to cut all ties with cryptocurrency.

 

It suggested that such an act could cause greater risk in the long run.

 

The official notice was signed by Prudential Authority CEO Fundi Tshazibana. In the past, certain South African banks had cut ties with crypto asset service providers (CASPs) — as they are called in the document — due to unclear regulations or a high-risk factor.

 

However, the notice highlights that risk assessment doesn’t mean dropping crypto entirely:

 

“Risk assessment does not necessarily imply that institutions should seek to avoid risk entirely (also referred to as de-risking), for example, through wholesale termination of client relationships which may include CASPs.”

It goes on to say such a move could even be a “threat” to general financial integrity, as it may limit the possibilities of treating issues such as money laundering.

 

In late July, the Reserve Bank released an assessment of risks within the local banking sector. According to the report, cryptocurrencies and virtual assets were included in the top 10 threats identified by the top local banks.

 

Prior to the report, the South African government released a plan that entailed the classification of crypto as a financial asset for regulatory purposes. The laws pertaining to the classification are expected within the next 12 months.

 

Crypto exchanges in South Africa reacted positively to this announcement. Many believe this move will drive adoption in the country. The country has seen major signs of interest and innovation in the crypto community, including "in real life," or IRL, crypto use cases.

 

South Africa is home to crypto projects such as Bitcoin Ekasi, a township that introduced Bitcoin as a means of bolstering the financial independence of local underserved communities and Unravel Surf Travel, a South African-based travel pro-crypto travel company.

 

Source: Cointelegraph