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'Digital currency' system being tested in South Africa


The government’s interdepartmental Fintech Working Group (IFWG) has announced the launch of ‘Project Khokha 2’ which aims to explore the use of tokenized money, blockchains, and digital currency in South Africa.
This follows the group’s Project Khokha 1 test which looked at using blockchain technology to speed up payment systems in the country.
The IFWG said it will further investigate the use of Distributed Ledger Technology (DLT) in the country’s financial sector.
Project Khokha 2 is a continuation of the structured analysis of the impact of DLT on financial markets – both benefits and risks – by gaining practical experience through experimental trials with industry, the group said in a statement. ....

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2020 – Year In Review In Insurance - Insurance


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In 2020, there were numerous changes to regulation of the
insurance sector in Canada, both in response to COVID-19 and in
keeping with regulators long-term plans. This article provides
a recap of some of the major changes that insurance companies and
other industry participants should keep in mind in 2021.
1. REGULATORY CHANGES
Saskatchewan s New Insurance
Legislation
The Insurance Act  (Saskatchewan) and its
regulations came into force on January 1, 2020. The new Act created
new licensing categories, new rules regarding fair and unfair
practices, and rules regarding self-evaluative audits. ....

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