Bitcoin crackdown in South Africa — what you should know mybroadband.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mybroadband.co.za Daily Mail and Mail on Sunday newspapers.
Report: South Africa Bars Transfer of Locally Acquired Cryptocurrencies to Overseas Exchanges, Offenders Face Jail Time
Fresh reports from South Africa suggest that the transfer of locally acquired cryptocurrencies to overseas crypto exchanges will now be subject to the country’s exchange control regulations. Consequently, transactions where an individual purchases crypto assets in South Africa and uses them to externalize “any right to capital” will be deemed a criminal offense.
Risk of Imprisonment
According to a Mybroadband report, this new interpretation of the country’s exchange control regulations is contained in the FAQ document recently published by the Intergovernmental Fintech Working Group (IFWG), a body that is comprised of South Africa’s financial regulators. In the document, regulators explained:
Transferring Bitcoin from Luno to overseas exchanges is a crime mybroadband.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mybroadband.co.za Daily Mail and Mail on Sunday newspapers.
Info
09 June 2021
by eub2 last modified 09 June 2021
In its regular package of infringement decisions, the European Commission pursues legal action against EU Member States for failing to comply with their obligations under EU law. These decisions, covering various sectors and EU policy areas, aim to ensure the proper application of EU law for the benefit of citizens and businesses.
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The key decisions taken by the Commission are presented below and
grouped by policy area. The Commission is also closing 239 cases in
which the issues with the Member States concerned have been solved
without the Commission needing to pursue the procedure further.
In recent years, the EU has taken a “zero tolerance” approach to illegal fishing practices. Now its vision to stop such practices through increased transparency needs support, writes Pierre Karleskind.