South Africa to Impose Strict Control over Cryptocurrency Transfers

South Africa to Impose Strict Control over Cryptocurrency Transfers

South African Reserve Bank (SARB), the country’s central bank has announced its plans to introduce a new regulatory framework to stop cryptocurrencies from being used to evade currency controls imposed in the country. SARB deputy governor Kuben Naidoo has stated that new regulations are expected to be out and implemented in Q1 of 2020.