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South Africa's Monetary Authority Greenlights Banks to Serve Crypto Clientswww.coindesk.com/policy/2022/08/19/south-africas-monetary-authority-greenlights-banks-to-serve-crypto-clients
225 sats \ 2 comments \ @KenyaCoin 19 Aug 2022 bitcoin
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27 sats \ 0 replies \ @KenyaCoin OP 19 Aug 2022
South African financial institutions will now be allowed to deal with funds linked to digital assets and shouldn't indiscriminately block all crypto clients, the country's central bank said.
Banks in the country "may act as a conduit for funds" tied to crypto asset service providers and "may play a role in customers wishing to purchase" or "receive payouts in fiat currency" in their bank accounts for the sale of crypto, the South African Reserve Bank (SARB) said in new guidelines published this week.
Here is the regulator's guidelines document:
*Guidance Note issued in terms of section 6(5) of the Banks Act 94 of 1990 * https://www.resbank.co.za/content/dam/sarb/publications/prudential-authority/pa-deposit-takers/banks-guidance-notes/2022/G10-2022%20-%20Supervisory%20guidelines%20for%20matters%20related%20to%20the%20prevention%20of%20unlawful%20activities.pdf
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0 sats \ 0 replies \ @KenyaCoin OP 23 Aug 2022
SARB's guidance is likely the catalyst for Binance resuming support for ZAR deposits and withdrawals:
Binance Resumes Support For South African Rand (ZAR) Deposit And Withdraw #62047 https://www.binance.com/en/support/announcement/099d34c2400d41edbf7e06925bf627ef
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