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21 sats \ 0 replies \ @k00b 19 Oct 2022
Is this better or worse than considering it property? I guess I'm just unsure what financial product means.
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0 sats \ 1 reply \ @KenyaCoin 19 Oct 2022
Here's an article on this development from Bloomberg:
Crypto Assets to Be Treated as Financial Products in South Africa
https://www.bloomberg.com/news/articles/2022-10-19/crypto-assets-will-be-treated-as-financial-products-in-south-africa-from-today [Archive]
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0 sats \ 0 replies \ @KenyaCoin 19 Oct 2022
Here's the Tweet by the CEO of VALR exchange that kicks off a Twitter thread on this development:
https://twitter.com/farzamehsani/status/1582775023709741058 [Nitter]
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0 sats \ 0 replies \ @CheezeGrater 19 Oct 2022
Some of what I could find on the matter from a while back:
https://www.coindesk.com/policy/2022/08/19/south-africas-monetary-authority-greenlights-banks-to-serve-crypto-clients/
"The guidance was released after some local banks previously moved to shut down accounts tied to crypto exchanges, citing exposures to risk. In the published document, the SARB said it was aware that certain banks in the country have blocked clients with links to crypto. It added that although thorough risk assessment is necessary, the "wholesale termination of client relationships" poses a threat to financial integrity."
So seems like a good thing.
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