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South Africa to Accelerate Crypto Regulation in Wake of Scams: Report
A regulatory structure should be in place in three to six months.
Автор Sheldon Reback
South Africa is accelerating its push to regulate crypto assets after being hit by two scams this year, Bloomberg reported.
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- A regulatory structure should be in place in three to six months, Bloomberg said, citing Kuben Naidoo, CEO of the Prudential Authority, which regulates the country’s banks and insurers.
- “We are of the view that cryptocurrencies are risky and we want to ensure that the financial sector is aware of those risks and pricing for those risks properly,” Naidoo said.
- In June, the Financial Sector Conduct Authority (FSCA), which regulates market conduct, said it will start to deal with crypto assets "in a phased and structured approach."
- That's the same month that the founders of crypto investment firm Africrypt disappeared with an estimated $3.6 billion of bitcoin. Earlier this year, Mirror Trading International reportedly defrauded investors of more than $589 million.
Read more: South Africa’s Regulatory Uncertainty Driving Away Crypto Startups: Report
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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ECB’s Christine Lagarde shifts focus to digital euro rollout after holding rates
With technical and preparatory work complete, the ECB pressed lawmakers to move quickly on Europe’s public digital currency amid global stablecoin concerns.
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- The European Central Bank has completed its preparatory work on the digital euro, awaiting action from political institutions.
- ECB President Christine Lagarde emphasized a data-driven approach to interest rate decisions, with inflation projected to meet the 2% target by 2028.
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