Key Takeaways On June 2, 2026, the SARB and FSCA declared that crypto assets and stablecoins are not legal tender. Wider adoption of crypto could risk NPS disruption and system stability, per economists. Next, the IFWG will analyze local currency stablecoins by late 2026 to draft new policy responses. Crypto Still Excluded From Legal Tender…
Three members of the Brazil, Russia, India, China and South Africa (BRICS) economic bloc disposed of billions of dollars in US treasuries in one month, the most recent report from the U.S. Treasury Department shows. According to data from the Treasury International Capital (TIC) System, Brazil, China and India together dumped $51.2 billion worth of…
TLDR: Ripple’s partnership with Absa Bank marks its first major crypto custody collaboration in Africa. The move extends Ripple’s global custody network into emerging African financial markets. Absa Bank will use Ripple’s technology to manage institutional-grade crypto and tokenized assets. Ripple now serves institutions across five continents, with growing demand in regulated crypto custody. Ripple…
A South African man accused of sending bitcoin to an Islamic State affiliate in Syria, is set to be released on bail after a court ruled he is not a flight risk. Accused Person Not a Flight Risk A South African man accused of sending bitcoin (BTC) worth just over $600 to an Islamic State…
Microsoft has announced plans to train 1 million people in South Africa on artificial intelligence (AI) and cybersecurity skills by 2026. This initiative, part of Microsoft’s broader efforts to empower individuals and businesses across Africa, aims to equip South Africans with the necessary skills to thrive in the digital economy. This announcement builds upon Microsoft’s…
The South African financial regulator has issued 248 of the crypto asset service provider licenses it has received to date. 9 Applications Rejected The South African financial regulator, the Financial Sector Conduct Authority (FSCA), has issued a total of 248 crypto asset service provider (CASP) licenses from the 420 applications it received. According to a…
Reports on a new BRICS currency designed to compete against the US dollar are fundamentally false, according to leaders in South Africa. In a statement, South Africa’s Department of International Relations and Cooperation (DIRCO) says BRICS is not working on a currency that could be used as an alternative to USD, reports Bloomberg. According to…
A longtime regular on the crypto scene, Sovryn and BitcoinOS founder Edan Yago learned the importance of financial sovereignty at an early age. Source link
South Africa’s financial regulator withdrew the license for the online trading platform Banxso. Financial Sector Conduct Authority (FSCA) cited concerns regarding the firm’s operational practices and potential risks posed to clients. The FSCA mentioned today (Wednesday) that Banxso’s license was withdrawn due to findings suggesting that the company could be engaging in practices posing risks…
Russian lawmakers have reportedly passed a bill that will enable the nation to use cryptocurrency in international trade. Reuters reports that the law is expected to take effect in September. Russian Central Bank Governor Elvira Nabiullina says the first crypto transactions will likely happen within the year. The law will only allow businesses to use…