A retail CBDC is defined as a purely digital banknote, denominated in the national unit of account, says SARB. The South African Reserve Bank’s (SARB’s) position paper on a retail central bank digital currency (CBDC) in South Africa has concluded there is no compelling immediate need for its implementation. In a statement, the central bank…
Stablecoins and central bank digital currencies (CBDCs) are gaining traction worldwide, and the South African Reserve Bank has told TechCentral it is watching the developments closely as it considers if – and how – the technologies could be implemented in South Africa. US President Donald Trump last month signed the Guiding and Establishing National Innovation…
In this episode of ITWeb TV, news editor Admire Moyo speaks to Lyle Hosley, head of fintech at the South African Reserve Bank, about the upcoming G20 Techsprint hackathon. She also discusses some of the biggest fintech trends the central bank is observing in South Africa. #SARB #Fintech #Cryptocurrency #Payments #Hackathon The South African Reserve…
A recent judgement finds that Bitcoin can’t be regulated under apartheid-era exchange control rules. The South African Reserve Bank (SARB) is appealing a Pretoria High Court ruling that set aside its forfeiture of more than R16.4 million held by Standard Bank, ruling that apartheid-era exchange control regulations can’t be used to deal with modern-day crypto-currency…
Cyber attacks are a danger to SA’s financial stability in a time of uncertainty. The South African Reserve Bank (SARB) has warned that cyber attacks are a systemic danger to the country’s financial stability at a time when the global economic situation is as uncertain as during COVID-19. According to the central bank, a cyber…
