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Prudential Authority urges avoiding one-size-fits all approachto crypto asset service providers, while it appears SA is stalling on blockchain arbitration agreements, and in 2023 Employment Equity Act amendments are expected to take effect

Prudential Authority urges avoiding one-size-fits-all approach to crypto asset service providers, while it appears SA is stalling on blockchain arbitration agreements, and in 2023 Employment Equity Act amendments are expected to take effectThe Prudential Authority, acting in terms of the Banks Act, 1990, issued a guidance note relating to cryptoassets and crypto asset service providers which emphasises that risk assessment does not necessarily mean that banks should seek to avoid any risk...

SA enforces foreign arbitration awards through the International Arbitration Act 15 of 2017. We examine how a potential difficulty arises if the original arbitral agreement or award is generated in a virtual environment on the blockchain, as it may not have signatures at all in the traditional sense that are capable of authentication.

 

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