Two experts have said they welcome South Africa’s planned regulation of cryptocurrency but warned this should not scare away investors. If the regulation is balanced between the need to protect investors and stimulating interest in crypto investment, this “could see funds stream into South Africa while growing the country’s burgeoning crypto ecosystem.”
Crypto as a Financial Product
South Africa’s impending cryptocurrency regulations as well as the central bank’s decision to regulate cryptocurrency as a financial product is welcome as long as this does stimulate interest in crypto investment, two experts have said.
In their joint statement shared with Bitcoin.com News, both Thomas Lobban, the legal manager at Tax Consulting South Africa and Greg Rodrigues, the CFO at a local crypto exchange, Revix, assert that any such regulations must not scare away investors.
The remarks by Lobban and Rodrigues follow reports quoting the deputy governor of the South African Reserve Bank (SARB)...
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