On 11 June 2021, the Intergovernmental Fintech Working Group (IFWG), through its Crypto Assets Regulatory Working Group, published its position paper on the regulation of crypto assets in South Africa, with 25 recommendations. The regulation of crypto assets is focused on the governance of the activities of crypto assets services and in particular crypto asset […]
The future of cryptocurrency regulation in South Africa Read More »
Summary: Crypto assets have been declared financial products in a draft declaration issued by the FCSA The draft is open to comment from the public until 28 January 2021 Those providing advice or intermediary services in respect of crypto assets will need to register as financial services providers and be subject to stricter controls On
Crypto Assets Defined as Financial Products Read More »
The release in the past few weeks by National Treasury of proposed amendments to the schedules to the Financial Intelligence Centre Act, 2001 (FIC Act), seems to have passed largely unnoticed by the general public. This, however, marks the first real step taken by government in achieving its stated aim of implementing a proportionate and
First Steps toward Crypto Asset Regulation in SA Read More »
Last year, Bitcoin and other cryptocurrencies sparked a modern gold rush spurred on by stories of individual investors making millions in a short period from their investment in Bitcoin. The desire to get rich quickly encouraged every man on the street to own a virtual wallet to buy cryptocurrencies and saw the advent of many
Cryptocurrency as an Investment: Classification Hurdles Read More »
In the wake of the Panama Papers and with growing instances of data breaches and identity theft, software developers need to show that they are taking privacy seriously. The proliferation of digitised-storage of data has moved global attention to the blockchain – the technology that underpins the cryptocurrency, Bitcoin. While the future of Bitcoin is
POPI Compliance: Can Personal Information be Stored on a Blockchain? Read More »
For 18% of the readers of this article, it will turn out to be the most important thing you read this year… While the claim in the subtitle is speculation and it remains to be seen how accurate I am with the percentile, it does give an indication of the gravity of this subject. The
The Blockchain – Part 1 Read More »
For most people blockchain technology is synonymous with bitcoin and often the mere mention of either results in a glazed expression and derision. After all, who can forget Silk Road? Well, if the latest media hype is anything to go by, blockchain technology is not just here to stay, it’s also the single biggest potential
To Blockchain or not to Blockchain Read More »
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KAI is free for Caveat friends and clients. To use KAI, complete the form below and look out for the AI’s answer, reviewed by a specialist lawyer, in your inbox. For the most accurate and helpful response, be as specific and detailed as possible. Provide all relevant facts and clearly state what you’d like answered.
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Feedback Welcome: Your experience matters to us. Please share feedback on this offering at info@caveatlegal.com to help us improve its efficacy.
