CoinDesk·3 min read·medium
South African lawmakers propose draft rules on cross-border crypto transactions
J
Jamie Crawley
✦AI Summary
South African financial authorities have proposed new regulations requiring all cross-border cryptocurrency transactions to be processed through authorized providers. These measures aim to prevent illicit financial flows and improve regulatory oversight without granting crypto the status of legal tender.
South Africa’s Treasury and central bank are moving towards regulating the use of cryptocurrency for cross-border transactions.
businesscryptoeconomy
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