Tag:

#SARB

SARB Warns Stablecoins Threaten Financial Stability as Emerging Markets Face $1 Trillion Banking Risk

Data reveals a staggering 1900% surge in stablecoin trading volume.

by Kennedy Embakasi November 27, 2025

TL;DR, Stablecoin trading volumes in South Africa exploded from R4 billion in 2022 to nearly R80 billion by 2025, which SARB warns is a direct threat to the nation’s financial stability. The SARB and IMF warn that dollar-pegged stablecoins enable capital flight and currency substitution, potentially draining $1 trillion from emerging market banks and eroding monetary sovereignty. African central banks are rushing to amend decades-old exchange control laws, as the borderless nature of stablecoins allows them to bypass regulations undetected, building up systemic risk. For an African trader, stablecoins are a medium to buy in and out of …

November 27, 2025 0 comments

SA Slams the Door on Crypto Loopholes: Cross-Border Rules Drop in 2025!

SARBs, FSCA, Prudential Authority coordinating to create clear CASP rules

by Kennedy Embakasi August 18, 2025

In Brief South Africa’s Finance Minister, Enoch Godongwana, stated no plans for an exchange control exemption framework. Judge Mandlenkosi Motha emphasized cryptocurrency is not money, exposing legal inadequacies. A clear crypto asset framework will close exchange-control loopholes and standardize cross-border crypto reporting. For Africa, developing a clear crypto asset framework requires revision, reiteration and collaboration. For South Africa, this notion is presented with the Finance Minister, Enoch Godongwana, confirming that the National Treasury has no intentions of drafting a comprehensive exchange control exemption framework. Instead, the minister revealed a collaborative effort headed by the South African Reserve Bank, …

August 18, 2025 2 comments

Legal Loophole or Progress? Unpacking the SARB Exchange Control Case Ruling

High Court rules cryptocurrencies outside existing exchange control regulations

by Kennedy Embakasi May 26, 2025

In a groundbreaking decision with global ramifications, South Africa’s High Court ruled that cryptocurrencies fall outside the scope of the nation’s exchange control regulations. The exchange control case, a heated debate between Standard Bank v. South African Reserve Bank, has sent shockwaves through financial and regulatory circles, with the Pretoria High Court clarifying that cryptocurrencies are not classified as “money” or ”capital” under existing South African crypto laws. This judgment has far-reaching implications requiring much-needed speculation and updates on its virtual assets legislation. In Brief SARB’s case exposes gaps in South African crypto laws, demanding urgent legislative reforms to address …

May 26, 2025 0 comments

The 59 Chosen Ones: Who Secured South Africa’s First Crypto Licenses?

What Business Models Qualify for the New License?

by Kennedy Embakasi March 23, 2024

TL;DR, Out of 355 total applicants, only 59 companies have successfully met the requirements to secure FSCA crypto licenses in South Africa’s first regulatory wave. The South African regulatory journey, starting in 2018, has evolved into a comprehensive framework that legitimizes crypto assets to protect consumers and prevent financial crimes. This regulatory move covers a wide range of services, from exchanges to advisory firms, positioning South Africa as a globally competitive and safe destination for digital finance innovation. The Financial Sector Conduct Authority (FSCA) in South Africa has granted operational licenses to 59 cryptocurrency companies. This is a major step …

March 23, 2024 0 comments