South Africa might be taking a different approach to crypto regulations. Rather than implementing government-based regulations on cryptocurrencies, a self-regulatory approach may be adopted.
Why self-regulate crypto? According to Bridget King, the Finance and Banking Practice Director at a South African law firm, prematurely regulating cryptocurrencies could stem their growth and the overall innovation of the industry.
King told the Business Report that:
“If laws are drafted based on existing technology, which is still in its growth phase, there is a risk that the technology may have moved so much by the …
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