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Report: Terror Groups Using South African Financial System to Move Funds
28.7.2022
Sympathizers of the terror group, the Islamic State (IS) are allegedly using South Africa’s financial system to channel funds to the group’s affiliates and networks in Africa. The United States government has so far sanctioned four South Africa-based individuals it accused...
Tax Collector Wants $55 Million From Collapsed Bitcoin Ponzi Scheme MTI — Liquidators Accused of Failing Their Duty
24.7.2022
In a fresh twist to the collapsed bitcoin Ponzi scheme Mirror Trading International (MTI) saga, revenue collector South African Revenue Services (SARS) has demanded $55.3 million from the scheme’s liquidators. The revenue collector added that it wants the tax bill settled before the...
South African Court Releases Former Monero Developer Riccardo Spagni From Custody
18.7.2022
A South African regional court recently ruled to release former Monero lead maintainer, Riccardo Spagni, from custody. The ruling came just a few days after his arrest by local law enforcement agents, a report has said. Prior to his release, Spagni aka Fluffypony told the court he had returned...
South African Crypto Investors and Service Providers Told of Legal and Tax Implications of Central Bank’s Plan
17.7.2022
South African tax consultancy firm Tax Consulting SA, has said the recent announcement by the central bank — that will start to regulate cryptocurrency in 12 to 18 months — has legal and tax implications for both crypto investors and organizations providing intermediary services....
South African Central Bank Now Considers Cryptocurrency to Be a Financial Asset
15.7.2022
The deputy governor of the South African Reserve Bank (SARB) recently said the institution has changed its position on cryptocurrency, and now regards it to be a financial asset which must be regulated as such. The SARB expects to have a cryptocurrency regulatory framework in place by the end...
South African exchanges welcome the new 'crypto is financial asset' ruling
14.7.2022
Major South African exchanges have welcomed the central bank’s plans to regulate cryptocurrencies as financial assets
South African Central Bank Reverses Course on Crypto Regulation
13.7.2022
South African Reserve Bank (SARB) Deputy Governor Kuben Naidoo has said "our view has changed" from five or six years ago when there was "no intent on regulating this from a currency point of view" to regarding crypto "as a financial asset that we hope to regulate."
Bitcoin not a currency? South Africa to regulate crypto as financial asset
13.7.2022
South Africa’s Reserve Bank will regulate cryptocurrencies as financial assets, and new laws are expected over the next 12 months
Report: South Africa’s Famed Krugerrands Collection Set to Be Tokenized
13.7.2022
South Africa’s famed Zuid-Afrikaansche Republiek (ZAR) coins or the Krugerrands collection are set to be tokenized and will be available to potential buyers from a price as low as $200. Tokenized coins will be minted by Web3 tech firm Momint and will be available on the firm’s...
Report: South African Firm Launches ‘Crypto Water Token’ — Receives Investment of $150M
9.7.2022
The South African company behind the so-called “crypto water token” is reported to have secured an investment of $150 million from a Bahamas-based digital asset management company, GEM Digital. Initially available on decentralized exchanges only, the H2ON token was recently listed...
US Regulator Charges South African MTI and Its Operator With $1.7 Billion Fraud Involving Bitcoin
2.7.2022
The U.S. Commodity Futures Trading Commission (CFTC) has charged Mirror Trading International (MTI) and its operator with a $1.7 billion fraud involving bitcoin. This action is the regulator’s largest fraud scheme case involving the cryptocurrency. CFTC Takes Action Against MTI The CFTC...
CFTC brings $1.7B fraud case involving Bitcoin against South African national
30.6.2022
“The defendants misappropriated, either directly or indirectly, all of the Bitcoin they accepted from the pool participants,” said the CFTC
CFTC Charges South African Bitcoin Club MTI in $1.7B Fraud
30.6.2022
MTI’s self-described CEO was recently detained in Brazil on an Interpol warrant, the regulator said
Bitcoin Fraud-Accused South African Radio Presenter Threatens Legal Action
14.6.2022
Following accusations that he defrauded investors in his bitcoin investment scheme, the South African radio presenter Sebasa Mogale has said he will take legal action against individuals that have reported him to the police. His lawyer insisted that no evidence will be found because Mogale never...
Popular Radio Presenter Suspended for Alleged Ties to Bitcoin Scam
23.5.2022
South Africa’s national broadcaster has suspended one of its employees that is accused of convincing unsuspecting people, including pensioners, to invest in a cryptocurrency scam. More than 100 people are believed to have fallen victim to promises of very high returns to investors in...
Masterminds Behind South African Bitcoin Ponzi Scheme Told to Pay Back Over $291 Million
12.5.2022
Masterminds of one of South Africa’s biggest bitcoin Ponzi schemes, Mirror Trading International (MTI), have been asked by the scheme’s liquidators to pay back over $291 million to cover the scam operation’s debts. Liquidators’ Influence Liquidators of the South African...
Collection of South African Fine Wine Sold as NFTs
29.4.2022
Collections of South Africa’s fine wines were recently sold as non-fungible tokens (NFTs) with one lot being sold for $79,000. Immediately following the auction, two lots were reportedly paid for using bitcoin. Lots Exceed Estimates Collections of fine wines made by some of South...
Nifty News: Solana NFT Okay Bears tops charts, South African wine NFTs rake it in and more
28.4.2022
Okay Bears, a Solana-powered NFT topped OpenSea’s 24-hour sales charts on Thursday, whilst a South African fine-wine NFT auction takes off netting raising more than $180,000
Report: South African University to Issue Blockchain-Based Certificates to Graduating Students
22.4.2022
A South African university has said starting this year it will issue blockchain-based certificates to students graduating from the learning institution. University administrators argued that a blockchain-based certification system will help prevent fraud and end the production of fake documents....
South African Central Bank Governor: Regulators and Policymakers Must Be Involved in Shaping Potential Move to DLT Markets
9.4.2022
The head of the South African central bank has insisted that regulators and policymakers should be involved in directing any potential move to markets that are based on distributed ledger technology (DLT). Pondering the Implications of Innovation The governor of the South African Reserve Bank...