BUSINESS MAVERICK: A digital currency in South Africa is still a long way off

At the time the bank met potential tender vendors to discuss the scope of the project, how it would be executed and its design principles.

Meanwhile, the South African Reserve Bank Act, which dates back to 1989, only empowers the Reserve Bank to mint coins and make banknotes, but does not expressly contemplate the minting or making of digital currency. Presumably, legislative steps would be taken to pave the way for the issuing of a digital SA ELT.

It is a collaborative effort, which includes participation from National Treasury, the Financial Intelligence Centre, the Financial Sector Conduct Authority, the National Credit Regulator, the South African Reserve Bank and the South African Revenue Service.

She says that many of these private operators say they want to reach the unbanked, which is estimated to be in the region of 1.7 billion people.

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BUSINESS MAVERICK: PGM party: RBPlat surges back into profit, South Africa has positive terms of trade shockRoyal Bafokeng Platinum (RBPlat), a mid-tier and black-owned mining company, is the latest PGM (platinum group metals) producer to report stellar results in large part because of sky-high palladium and rhodium prices. These have also helped give South Africa a welcome shock on the terms of trade front.
Source: dailymaverick - 🏆 3. / 84 Read more »

Reel Respect – Influencial women in the entertainment industry | Arena Events - Online Events South AfricaIn honour of Women’s Month, we’re hosting a Women in Film webinar today at 6pm. Liesl Tommy, director of the Aretha Franklin biopic ‘Respect’, will be chatting to leading women in the film industry like tumi_morake. Click here SowetanKnowYourPlace
Source: SowetanLIVE - 🏆 13. / 63 Read more »