Coalition warns new rules risk crypto catastrophe

Coalition warns new rules risk crypto catastrophe

The Johannesburg High Court found that crypto-currency is subject to current forex rules. (Graphic: Nicola Mawson | Freepik) A new crypto coalition, called CATASTROPHE, warns proposed cross-border regulations could threaten thousands of jobs, hit millions of crypto holders and cost the fiscus billions of rand in tax revenue. It is calling on National Treasury and…

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SA’s R1.5-billion bill with no rules

SA’s R1.5-billion bill with no rules

South Africa is paying renewable energy producers hundreds of millions of rand to stop generating, and no rule anywhere in the electricity rule book governs how that money is recovered or who ultimately carries it. That is according to energy regulator Nersa, which told TechCentral that the framework meant to manage the country’s shift to…

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SpaceX urges ICASA to resolve ownership rules blocking Starlink in South Africa

SpaceX urges ICASA to resolve ownership rules blocking Starlink in South Africa

Appearing at public hearings hosted by the Independent Communications Authority of South Africa (ICASA), SpaceX urged regulators to address the ownership compliance rules currently preventing Starlink from securing an operating license in South Africa. Representing SpaceX, Ryan Goodnight, Senior Director for Market Access and Development, addressed the authority regarding draft amendments to the Radio Frequency…

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Beijing said to move to clarify ambiguity in offshore trust tax rules

Beijing said to move to clarify ambiguity in offshore trust tax rules

A growing appreciation of family-oriented leisure pastimes and rapidly increasing prosperity are driving demand for vessels from dinghies to yachts. Nelson Ching | Bloomberg | Getty Images Beijing is moving to clarify new tax rules on offshore trusts that have sowed confusion among wealthy Chinese citizens and their advisers.  China’s State Taxation Administration is conducting…

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ICASA rules to close data expiry loopholes

ICASA rules to close data expiry loopholes

ICASA emphasises that the new rules aim to protect consumers as bill shock complaints continue. (Image source: iStock) The Independent Communications Authority of South Africa (ICASA) has defended its data transfer regulations, saying they aim to prevent bill shock and ensure fair data usage. ICASA yesterday briefed Parliament’s Portfolio Committee on Communications and Digital Technologies…

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