TechFlow, Nov. 26 — According to a Bloomberg report, the South African Reserve Bank warned in its biannual financial stability assessment released on Tuesday that the lack of comprehensive regulation over crypto assets and stablecoins has emerged as a new risk, posing a significant threat to the country's financial sector.
The central bank noted that due to the fully digital and borderless nature of cryptocurrencies, they could be used to circumvent South Africa's foreign exchange control laws. Currently, these laws do not cover digital assets, creating challenges for regulators.
Add to Favorites
Share to Social Media
