Today news
About the same in other media
South Africa may disallow crypto investments for pension funds
Reading now: 658
South Africa features in the top 20 countries in the world, in terms of crypto adoption. Also, in a first, crypto trading in the country recently exceeded $141 million levels.
Having said that, a local report claimed that South African pension funds will be barred from including Bitcoin and other crypto offerings under new draft guidelines. If the proposal is accepted after the public-comment deadline on 12 November, no pension fund may “invest in crypto-assets directly or indirectly.”
Previously, Regulation 28 of the Pension Funds Act assumed an investment up to 2.5% to “other assets,” which could have included cryptocurrencies. However, changes to the Act will explicitly ban crypto investments, as per the report.
What’s alarming to the
Read more on ambcrypto.comAbout this in other media
Government May Bar Crypto Transactions, Permit Holding As Assets: Report ndtv.com /3 years ago
Nigeria: A 43% drop in Bitcoin P2P trading volumes thanks to… ambcrypto.com /3 years ago
South Africa Can’t Afford to Quit Coal. Will Rich Countries Pay for the Transition? wsj.com /3 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
