News list for "South African Central Bank"
According to market news, the South African central bank has classified cryptocurrencies and stablecoins as financial risks, citing the growing number of users and rising transaction volumes.
The South African Central Bank (SARB) has warned that cryptoassets and stablecoins have become a new risk threatening the country's financial sector due to the lack of comprehensive regulation. In its semi-annual Financial Stability Review, it pointed out that the digital, cross-border nature of cryptocurrencies allows them to circumvent existing foreign exchange control laws, while digital assets have not yet been regulated. According to Herco Steyn, the central bank's chief macroprudential exp...
The South African Reserve Bank has decided not to publish the results of the initial phase of its central bank digital currency feasibility study. Instead, the central bank said it is now focusing on the second phase of the study and will publish a report when it is satisfied with the progress made in this area.
