South Africa Bank Wants Crypto Transactions by 2020

in #cryptocurrency5 years ago (edited)

The South African Reserve Bank is the regulatory bank in our country. They want suggestions and will be taking them until the end of February next year.

They want a electronic version of our fiat. Or want to use existing crypto. They are open to interaction. It will be interesting to see what happend as we have some of the most violent cash crimes globally.

With daily cash in transit heists.

We also have a government that wants to infringe on property rights which could push for more adoption and investment. Or more control.

I hope for using existing crypto. They want there to be as little difference possible it seems between international purchases and local ones.

Truly a global currency or system. I often like to refer to SOuth-Africa as the canary in the coal mine. Watch this space.

Please refer to the source below. The picture is from the article.

https://www.businessinsider.co.za/national-payment-system-review-reserve-bank-on-virtual-currency-settlement-and-low-value-retail-2018-12

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South Africa currently not allow crypto?

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It is very popular in South-Africa. And fully legal. I know of many people who own.

They want it as a standard. And to be put in to regulations.

So we can pay for everyday things like coffee for crypto.

As I explained SA has extremely violent crime. Like people blowing up the cash carrying trucks on the highways with ak47's. And most target cash in transit.

So we might rid this crime, because it is currently a very hot issue. And a prioritized crime here.

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