CryptoMediaClub
Sunday, July 27, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Can the Upcoming South Africa Elections Swing In Favor of Crypto?

29.04.2024
A A
0
125
VIEWS
ShareShare

South Africa’s approaching elections are unlikely to disrupt the country’s progress in the realm of digital assets, according to several members of the crypto community.

The recent establishment of a licensing regime for cryptocurrencies by the Financial Sector Conduct Authority (FSCA) positions South Africa as one of the pioneering African nations in this area.

As part of this regime, the FSCA is preparing to issue 60 licenses to crypto firms in the coming weeks, with Luno, Zignaly, and VALR already being granted licenses.

🇿🇦The FSCA in South Africa has approved 75 institutions as crypto asset service providers (CASPs) pic.twitter.com/ipV7aLtgTR

— Kashif Raza (@simplykashif) April 24, 2024

South Africa’s Crypto Regulatory Efforts

South Africa expanded the scope of its Financial Advisory and Intermediary Services Act in 2022 to encompass crypto providers, enabling the regulation of digital assets as financial products.

“This signals a forward-thinking approach to regulating the crypto space, aligning with global trends and acknowledging the growing significance of blockchain technology in modern finance,” stated Maurice Crespi, a partner at Schindlers Attorneys, a law firm based in South Africa.

On May 29, South Africa will elect its president.

While the African National Congress (ANC) has held a dominant position for the past three decades, its majority is now being challenged.

Consequently, the ANC may have to form a coalition, potentially including the opposition party, the Democratic Alliance, and the far-left Economic Freedom Fighters party.

Nonetheless, Mpumelelo Ndamane, CEO of South Africa-based crypto wallet provider Nuud Money, believes that political dynamics will not interfere with the country’s crypto policies.

“We’ve been pretty stable over the past 30 years when it comes to ensuring the [South African Reserve Bank] and FSCA are independent of politics. It won’t affect the crypto policy.”

South Africa to Explore Use Cases for Stablecoins

South Africa’s National Treasury has recently indicated that its Intergovernmental Fintech Working Group will explore use cases for stablecoins and consider policy and regulatory responses throughout the year.

The group will also examine the impact of tokenization on domestic markets and plans to publish a discussion paper outlining the regulatory implications of tokenization and blockchain-based financial market infrastructure by December.

Tokenization refers to the representation of real-world assets on a blockchain.

John McCarthy, the General Counsel for Global Regulatory Affairs at Fireblocks, expressed his opinion on South Africa’s approach.

“I think that in South Africa, in particular, the work that has been done on digital assets has been to address problems that in many respects are apolitical, and the approach they’ve taken has been apolitical as well. It’s also been through an intergovernmental working body, much of which is inherently apolitical.”

A survey conducted in 2017 revealed that 47% of South Africans had either invested in cryptocurrencies or expressed an interest in doing so.

Additionally, Bitcoin wallet downloads in the country experienced a 100% increase in the same year.

In 2020, crypto exchange Luno reported that South Africa had the third-highest level of crypto ownership worldwide, reaching 13%.

Meanwhile, as crypto adoption continues to rise, South African companies are actively embracing cryptocurrencies.

Stitch, a South African payments infrastructure firm, introduced “Pay with Crypto” last year, enabling customers to use cryptocurrencies for purchases.

The post Can the Upcoming South Africa Elections Swing In Favor of Crypto? appeared first on Cryptonews.

Share10Tweet6ShareSharePin2

Related Posts

Bitwise CIO Bets on Bitcoin Rally in 2026, Defying 4-Year Cycle
All news

Bitwise CIO Bets on Bitcoin Rally in 2026, Defying 4-Year Cycle

27.07.2025
0

Bitwise chief investment officer Matt Hougan believes Bitcoin could break from its historical four-year cycle and post significant gains in...

Read moreDetails
Ethereum Price Prediction: ETFs Log 17-Day Inflow Streak – Is a Supply Shock Coming?

Ethereum Price Prediction: ETFs Log 17-Day Inflow Streak – Is a Supply Shock Coming?

27.07.2025
Bitcoin Price Prediction: Satoshi-Era Whale Exit Fuels Volatility — What’s Next?

Bitcoin Price Prediction: Satoshi-Era Whale Exit Fuels Volatility — What’s Next?

27.07.2025
What if Strategy Had Invested in XRP Instead of Bitcoin? 

What if Strategy Had Invested in XRP Instead of Bitcoin? 

27.07.2025
Ethena Up 21% After $360M USDe Deal – Can ENA Hit $1?

Ethena Up 21% After $360M USDe Deal – Can ENA Hit $1?

27.07.2025
Load More
Next Post

Spot Ethereum ETF by Franklin Templeton Available on DTCC

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

BlackRock Files Bitcoin Spot ETF Application, Taps Coinbase

2 years ago
Crypto remains hopeful as market moves sideways: Report

Crypto remains hopeful as market moves sideways: Report

2 years ago
Terraform’s Do Kwon Reportedly Paid $7M to Legal Firm Before Crash

Terraform’s Do Kwon Reportedly Paid $7M to Legal Firm Before Crash

2 years ago
Bitcoin Price Prediction as BTC Shoots Past $65,000 Resistance – Bulls Back in Control?

Bitcoin Price Prediction as BTC Shoots Past $65,000 Resistance – Bulls Back in Control?

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Increased market volatility as the U.S.–Europe tariff deadline looms

What if Strategy Had Invested in XRP Instead of Bitcoin? 

Ethena Up 21% After $360M USDe Deal – Can ENA Hit $1?

After the Passage of the Genius Act, ALL4 Mining and XRP Will Help Investors Open a New Chapter in Mining Income

Bitcoin Price Prediction: All Eyes on This Descending Triangle Chart Pattern – 100% Move Coming?

Siton Mining Launches New Application to Use XRP to Start BTC Mining Machines

Trending

Bitwise CIO Bets on Bitcoin Rally in 2026, Defying 4-Year Cycle
All news

Bitwise CIO Bets on Bitcoin Rally in 2026, Defying 4-Year Cycle

27.07.2025
0

Bitwise chief investment officer Matt Hougan believes Bitcoin could break from its historical four-year cycle and post...

Ethereum Price Prediction: ETFs Log 17-Day Inflow Streak – Is a Supply Shock Coming?

Ethereum Price Prediction: ETFs Log 17-Day Inflow Streak – Is a Supply Shock Coming?

27.07.2025
Bitcoin Price Prediction: Satoshi-Era Whale Exit Fuels Volatility — What’s Next?

Bitcoin Price Prediction: Satoshi-Era Whale Exit Fuels Volatility — What’s Next?

27.07.2025
Increased market volatility as the U.S.–Europe tariff deadline looms

Increased market volatility as the U.S.–Europe tariff deadline looms

27.07.2025
What if Strategy Had Invested in XRP Instead of Bitcoin? 

What if Strategy Had Invested in XRP Instead of Bitcoin? 

27.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz