South Africa

Continuing operations without applying for registration in the designated time period could lead to a $510,000 fine or imprisonment, the government has said.

By Camomile Shumba

May 25, 2023 at 2:03 p.m. UTC

May 25, 2023

AnalysisCryptoSouth AfricaRegulations

South African Mirror Trading's CEO Fined $3.4B by U.S. in Bitcoin Forex Fraud Case

The founder of bitcoin pool operator MTI was charged with fraud last year for running an unlicensed commodity pool scheme.

By Sandali Handagama

Apr 28, 2023 at 8:06 a.m. UTC

Apr 28, 2023

RegulationsSouth AfricaCFTCBitcoinFraudUS

CoinDesk Indices Joins With Luno to Help South African Users Track Crypto Investment Bundles

The partnership between the CoinDesk subsidiary and crypto exchange will see the release of "Luno Large Cap Bundle," helping customers manage and maintain different investment strategies.

By Aoyon Ashraf

Apr 17, 2023 at 7:00 a.m. UTC

Apr 17, 2023

LunoCoinDesk IndicesSouth AfricaDCGInvestingCrypto Indexes

New rules seek to clamp down on the use of social media influencers such as Kim Kardashian. (Taylor Hill/FilmMagic/Getty Images)

South African Self-Regulatory Body Mandates Risk Warnings in Crypto Ads

Under the industry’s self-regulation code, advertisements must clearly warn users of investment risk and social media influencers shouldn’t offer trading advice.

By Jack Schickler

Jan 23, 2023 at 9:05 a.m. UTC

Jan 23, 2023

RegulationsAdvertisingInfluencersKim KardashianSouth Africa

Crypto Adoption and Opportunities in South Africa

Standard Bank Group Head of the Blockchain Centre of Excellence Ian Putter discusses crypto adoption inside South Africa, particularly after the fall of FTX.

By CoinDesk Inc

Jan 18, 2023 at 4:29 p.m. UTC

Jan 18, 2023

cdtvFTXFM ClipIan putterSouth Africacrypto adoptionSocial_ClipftxforarcDavos 2023Standard bank group

Blockchain Adoption in South Africa Moving Rapidly, Standard Bank Group's Putter Says

Standard Bank Group Head of the Blockchain Centre of Excellence Ian Putter discusses his outlook for digital assets and blockchain technology in traditional banking. Plus, insights on crypto adoption in South Africa.

By CoinDesk Inc

Jan 18, 2023 at 4:14 p.m. UTC

Jan 18, 2023

Blockchaindigital assetscdtvFM ClipSouth AfricaDavos 2023Ian putterTraditional bankingStandard bank group

How Machankura Allows Bitcoin Transactions Without an Internet Connection

Video

Cdtv

How Machankura Allows Bitcoin Transactions Without an Internet Connection

Bitcoiners in African countries, including Nigeria, South Africa, Kenya and Ghana, can now send and receive bitcoin (BTC) without a smartphone or Internet connection. Machankura catalyst Kgothatso Ngako discusses how the digital wallet startup is making it happen by tapping into the Bitcoin Lightning network. Plus, insights on bitcoin adoption in Africa.

By CoinDesk Inc

Jan 9, 2023 at 9:00 p.m. UTC

Jan 9, 2023

cdtvNigeriaaab clipAfricaGhanaSouth AfricaKenyaMachankuraKgothatso ngakoBitcoin lightning network

Policy

Regulations

South Africa Adds Crypto Businesses to List of Accountable Institutions

Crypto exchange and custody businesses are among entities that will have to identify and keep records for new and existing clients.

By Camomile Shumba

Nov 30, 2022 at 3:03 p.m. UTC

Nov 30, 2022

RegulationsSouth AfricaCrypto

Galaxy Digital to Cut 20% of its Workforce; Core Scientific Reportedly in Talks With Lawyers

Video

Lightning network

Galaxy Digital to Cut 20% of its Workforce; Core Scientific Reportedly in Talks With Lawyers

Michael Novogratz led crypto focused financial services firm Galaxy Digital plans to cut at least 20 of its global workforce Convertible bond holders of BTC miner Core Scientific are in talks with restructuring attorneys at Paul Hastings South Africa's leading supermarket chain Pick n Pay is now allowing BTC payments via Lightning Network enabled apps [...]

By CoinDesk Inc

Nov 1, 2022 at 7:44 p.m. UTC

Nov 1, 2022