South Africa is taking a big step in regulating the cryptocurrency panorama with a brand new directive from the Monetary Intelligence Centre (FIC) that mandates Crypto Asset Service Suppliers (CASPs) to trace and confirm transactions. Efficient from April 30, 2025, this regulation aligns with the Monetary Motion Process Drive’s (FATF) “Journey Rule,” requiring detailed info on the originator and beneficiary of trades. The implications are huge, elevating questions in regards to the operational viability of CASPs in a difficult regulatory surroundings. Will these stringent measures result in layoffs or closures within the crypto sector, or may they deter overseas funding? Because the nation grapples with its grey-listed standing, the directive additionally brings considerations about consumer privateness and the potential backlash from customers.
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