Join the larget crypto conference of 2024 in Bitcoin

South African Reserve Bank seeks to introduce crypto-friendly policies

South African Reserve Bank seeks to introduce crypto-friendly policies 2

The deputy governor of the South Africa Reserve Bank (SARB) confirmed that the country is moving toward crypto adoption to make the use of cryptocurrencies in mainstream sector.

South Africa is a country on the southernmost tip of the African continent. The past stances of the South African government showed that the country is comfortable with the circulation of crypto assets in the country. Tax systems for crypto investors are similar to traditional tax systems but applicable to capital gains on crypto investment.

On 12 July, During the speaking at a webinar, Kuben Naidoo, the deputy governor at South Africa Reserve Bank (SARB), said that the country’s government is ready to introduce a precise crypto regulatory framework, which includes provisions to support crypto innovations in the country.

Mr Naidoo said that new law may get introduced within the next 18 months and the new law will not treat cryptocurrencies as a payment option but will treat it as a financial asset so that cryptocurrencies can be utilized in the mainstream sector.

   -----Cryptonews AD----->>> 

BYBIT - Copy Trading

Sign up for a Bybit account and claim exclusive rewards from the Bybit referral program! Plus, claim up to 6,045 USDT bonus at .

  <<<-----Cryptonews AD-----  


“We are not intent on regulating it as a currency as you can’t walk into a shop and use it to buy something. Instead, our view has changed to regulating (cryptocurrencies) as financial assets. There is a need to regulate it and bring it into the mainstream,” the deputy governor said.

The deputy governor indirectly emphasized the need to prohibit the hype nature of crypto projects, which are usual strategies to promote crypto tokens. He said that there should be better rules to balance the hype and with the investor protection that needs to be there. 

The statements passed by the Deputy governor during the webinar confirmed that there will be room for the use of crypto in payment systems but crypto will not be treated as legal tender.

Naidoo also noted that there are some genuine tech innovations by particular crypto projects that can be further improved and can be introduced into the payment system.

Read also: US Treasury seeks to get public opinion on crypto

South African Reserve Bank seeks to introduce crypto-friendly policies






Ads by Cryptonews24


Buy bitcoin and other cryptocurrencies on crypto exchanges:    Binance    Coinbase      Kraken      Bitfinex


ETH-ERC20 Mining and Financial Management

✅ Minimum Investment: 10 USDT.
✅ Minimum withdrawal: 1 USDT.
✅ Withdrawal time: 24h.
✅ Withdrawal day: Everyday.
✅ 5% cashback on first investment.
✅ daily profit 6-11.5% on your investment (Profit will be added every hour in your wallet).
✅ Get up to 10% referral Bonus.

The output of liquid mining is not constant and may be affected by the liquidity of the blockchain. The expected daily production income:


✅ VIP2: DEPOSIT 10001~50000 USDT GET 2.5% EVERYDAY


✅ VIP4: DEPOSIT 100001~200000 USDT GET 4% EVERYDAY

✅ VIP5: DEPOSIT 200001~500000 USDT GET 5% EVERYDAY

✅ VIP6: DEPOSIT 500001~1000000 USDT GET 7% EVERYDAY



📌 You must open wallet  (Metamask, Tronlink e.t.c. ) and connect it,  for earning income




ETH-ERC20 Mining and Financial Management


Support Telegram Group:


Ads by Cryptonews24




Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin. provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice. recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.


Please follow and like us:

Social media & sharing icons powered by UltimatelySocial