The South African Reserve Bank (Sarb) is planning to introduce new rules regarding the use of digital currencies, or cryptocurrencies, in a bid to stop them from being used to evade currency controls. According to reports, Sarb deputy governor Kuben Naidoo told journalists last week that the rules would be put in place in the first quarter of next year, bringing to an end the consultations that began in 2014. Naidoo was not immediately available to verify this, and other Sarb officials could not comment. But local banks such as FNB have already started clamping down on virtual currency companies and last week closed ... (full story)