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South Africa Plans Regulations for Cryptocurrencies.

South Africa’s financial regulator is planning to unveil a regulatory framework covering cryptocurrencies early next year to help protect vulnerable members of the society from highly risky assets.

The rules, designed in concert with peers like the prudential authority and the financial surveillance board, will establish how trading in coins such as Ethereum, XRP and Litecoin should be conducted, FSCA Commissioner Unathi Kamlana said in an interview on Friday 10 December 2021.

Other issues to be examined include how the currencies interact with traditional financial products, the risks they pertain to bank balance sheets, and whether they threaten fiscal stability. 

Source: www.bloomberg.com

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