South Africa makes cryptocurrency legal – Katoch Tubes

South Africa pro crypto move

What's the news?

South Africa has declared crypto assets as a financial product. A move appreciated by the crypto community.

The definition of assets

The Financial Sector Conduct Authority of South Africa defines crypto assets as a digital representation of value that  can be traded and invested.

Why this move?

The move came at the time of witnessing the exponential rise of trading of crypto assets in the country.

Stopping the Scams

By including cryptos among the financial products expands the reach of govt. in detecting crypto scams which now can be legally punished under the law.

Excluded Categories

Node operators, mining nodes, NFTs and NFT platforms are exempted under the declaration.

Brands accepting crypto

Swipe up & checkout the leading brands accepting crypto currencies

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