カテゴリー: South Africa

P2P Markets: Russian Localbitcoins Trade Outpaces Venezuela

P2P Markets: Russian Localbitcoins Trade Outpaces VenezuelaDuring the week of March 2, roughly 14,365 BTC changed hands via peer-to-peer (P2P) exchange Localbitcoins, equating to approximately $51.51 million worth of trade. Of that, 3,593 was BTC traded via the Russian markets, 83 percent more volume than was produced by Localbitcoins’ second-largest market, Venezuela. Also Read: Turkish Real Estate Agency Sells 9 Houses […]

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Survey Ranks South Africa Top for Cryptocurrency Ownership

Survey Ranks South Africa Top for Crypto OwnershipSouth Africa has been ranked as the top country for ownership of cryptocurrency, according to a global survey by social media management company Hootsuite and global agency Wearesocial. The survey found that 10.7 percent of internet users in the country own cryptocurrency. Thailand is second, with 9.9 percent of mobile users owning cryptocurrency and Indonesia […]

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High Cost Slows Down Bitcoin ATM Growth in Africa

High Cost, Lack of Human Feel Slows Down Bitcoin ATM Growth in AfricaThere are more than 4,000 bitcoin automated teller machines (ATMs) in the world, but only just about 10 (or 0.2 percent) of these are in Africa. In a continent widely touted as the next big growth region for cryptocurrency, could it be that the story of Africa’s growth isn’t as real as many “Africa rising” […]

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Cryptocurrency Is Providing a Lucrative New Revenue Stream for Governments

Cryptocurrency: New Lucrative Income Source for GovernmentsCryptocurrency’s resistance to government control is countered by the fact that a number of governments, including Chile, Romania, Spain and South Africa, are looking to cash in by taxing crypto assets. These countries are crafting laws that bind citizens to annually disclose cryptocurrency investments that, in some cases, are held at home and abroad, and […]

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South Africa Wants to Mandate Registration of Crypto Service Providers

South Africa Wants to Mandate Registration of Crypto Service ProvidersA regulatory working group in South Africa, which includes the country’s central bank, has released a consultation paper on crypto assets this week. According to the document, all exchanges, wallet providers, Bitcoin ATMs and payment processors will have to register with the government in 2019.  Also Read: Bitpay Reports Processing Over $1 Billion Transactions in […]

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Report Claims Central Banks Are Cautious About Issuing Their Own Digital Currencies

Report: World Central Banks Proceed Cautiously on Issuing Own Digital CurrenciesThe Bank of International Settlements (BIS) has published a survey showing that most central central banks are “proceeding cautiously” on issuing their own digital currencies. Only a handful are planning to do so in the near future, it said. Also read: Coinflex Exchange to Offer Leveraged BCH and BTC Futures 70 Percent of Central Banks Working […]

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South African Officials Create Regulatory Working Group Dedicated to Cryptocurrencies

South African Officials Create Regulatory Working Group for CryptocurrenciesThe Minister of Finance of South Africa, Tito Mboweni, explained in a letter on Jan. 2 that the region’s government has created a regulatory working group dedicated to cryptocurrencies. According to Mboweni, the working group includes representatives from multiple South African agencies and aims to produce a comprehensive regulatory response to the growing digital asset […]

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Law Firm: South Africa’s Draft Tax Law Could Affect Cryptocurrency Use

Law Firm: South Africa's Draft Tax Law Could Affect Cryptocurrency UseA South African law firm has published a short essay on proposed tax legislation for cryptocurrency in the country. Cox Yeats Attorneys, a Durban-based firm, argues that the Taxation Laws Amendment Bill, published by the National Treasury in July, will be bad for the digital asset industry, according to local media reports. Also read: Uganda to Regulate […]

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Survey: South Africans Turning to Crypto as Hedge Against Volatility of the Rand

Survey: South Africans Turning to Crypto as Hedge Against Volatility of the RandA survey by Luno, a London-based cryptocurrency platform, has revealed that a growing number of people in South Africa prefer holding cryptocurrencies such as bitcoin and bitcoin cash rather than the local fiat unit, the rand. About 70 percent of South Africans have heard about virtual currencies, and most people have been using them as […]

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Exchanges Roundup: Luno Expects ‘Open’ South African Rules, Bitstamp Updates Engine

In this edition of Exchanges Roundup, we look at a Luno executive’s belief that the South African government will introduce “open” crypto regulations. We also focus on Bitstamp, which expects a 1250x increase in matching speed after it integrates a customized version of Cinnober’s trading engine software into its platform, as well as the motivation behind a […]

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