Crypto’s Are Not Currency But Tokens: SA Central Bank

By Farai Mudzingwa

Cryptocurrencies are quite confusing, to be honest. It seems very few people fully understand cryptos and those who do are usually unable to fully explain how the digital currencies work to the general populace.

Is South Africa back-tracking?

South Africa which has long been considered one of the pioneers in Africa when it comes to embracing cryptocurrency seems to be adopting a more cautious approach in regards to cryptocurrencies. The Deputy Governor of the South Africa Reserve Bank (SARB), Francois Goepe, has gone on record saying they choose to call these coins crypto-tokens and not currencies.

The Deputy Governor said:

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