South Africa Coalition Pushes Back on Draft Cross-Border Crypto Rules
A coalition of regulated crypto firms is urging South Africa's Treasury and Reserve Bank to reconsider draft cross-border rules it says could harm businesses and jobs.
AfroEuropa Newsroom
AfroEuropa desk
A newly formed coalition of regulated crypto companies in South Africa is calling on the country's authorities to reconsider draft regulations governing cross-border crypto payments, arguing the proposed rules would damage local businesses and the wider economy.
The group, which uses the acronym CATASTROPHE (Crypto Asset Taskforce for Advancing Sound, Technology-Neutral Regulation for Opportunity, Prosperity and a Healthy Economy), has launched a national campaign against the draft framework published by the National Treasury and the South African Reserve Bank (SARB). According to BitKE, the coalition brings together several regulated Crypto Asset Service Providers along with academics, lawyers, economists and entrepreneurs. Named participants include VALR, Luno, AltCoinTrader and EasyEquities.
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