South Africa’s financial regulator announced its intention to bring crypto businesses under its oversight. The Financial Sector Conduct Authority said it intends to bring crypto assets into its regulatory remit "in a phased and structured approach," in a position paper published Friday with the Intergovernmental Fintech Working Group (IFWG). Recommendations by the IFWG concern the implementation of an anti-money laundering framework for crypto asset service providers, a framework for monitoring cross-border financial flows and the application of financial-sector laws. Publication of the paper may provide some ... (full story)

Since the release of the Bitcoin white paper more than 12 years ago, the crypto asset ecosystem has grown to include more than 10 000 unique crypto assets as at the time of publishing this paper. Global daily trading values have also increased significantly over the past few years, currently averaging in excess of $200 billion, and on some days exceeding $400 billion. While crypto assets’ viability as a widely used means of payment remains untested and an open question, the market has demonstrated significant resilience over the last decade, with the use cases for crypto assets as an alternative – albeit highly ... (full story)