South Africa Moves to Tighten Crypto Regulation After Scams

South Africa is moving with more urgency to stiffen oversight of cryptocurrency assets after a proliferation of scams.

A new regulatory timeline foresees finalizing a framework in three to six months, after the publication of proposals earlier in June that requires public comment before approval, according to Kuben Naidoo, chief executive officer of South Africa’s banking regulator known as the Prudential Authority.