The Central Bank of South Africa officially considers crypto to be a financial asset
Kuben Naidoo (SARB’s deputy governor) recently stated that the institution has rewritten its position on cryptocurrency and is looking to establish a framework for crypto-related transactions to create a safer crypto environment.
Naidoo said crypto exchanges would have to comply with exchange control laws such as anti-money laundering and counter-financing of terrorism rules. They would have to adhere to exchange contract rules, just like people who trade in any currency or make cross-border transactions.