Private Equity Moris Beracha Wuani

By Yogita Khatri Crypto exchanges and wallet providers would have to register with regulators under rules proposed by South Africa’s central bank. In a consultation paper published Wednesday, the South African Reserve Bank (SARB) said that regulatory action on crypto assets needs to be prioritized to protect consumers and investors, stating that consumers “are left vulnerable as sellers of crypto assets are not regulated.” Discussing the possible regulatory approaches that could be taken, and citing the “reputational risk” that is faced if mistakes are made, the central bank proposes walking a middle line between doing nothing and stringent regulation or a ban – a level of oversight it describes as “limited regulation.” “At this proposed level, an official body places specific requirements on providers of certain services in respect of crypto assets, without setting predefined conditions for formal authorisation to provide crypto assets-related product...

By  William Suberg The  central bank  of  Egypt  wants to introduce a digital version of the Egyptian pound to reduce costs, local English language news outlet  Amwal Al Ghad  reported Dec. 16. Ayman Hussein, sub-governor of the Central Bank of Egypt (CBE), told an Abu Dhabi conference on Sunday that “feasibility studies” were currently ongoing. In line with various authorities in the vicinity, Egypt believes a  blockchain -based digital version of its  fiat currency  can help keep issuance and transaction costs to a minimum compared to coins and banknotes, Amwal Al Ghad notes. The move is one step in the journey to a cashless society. “A number of international institutions” are involved in the studies, Amwal Al Ghad reported Hussein as saying, “without disclosing names or specifying whether the anticipated currency would be traded for banks only or between banks and clients.” Egypt has traditional...

Central banks should issue their own digital currencies to replace a crisis-prone banking system and shut out cryptocurrencies By Nouriel Roubini T he world’s central bankers have begun to discuss the idea of central bank digital currencies (CBDCs), and now even the International Monetary Fund and its managing director, Christine Lagarde , are talking openly about the pros and cons of the idea. This conversation is past due. Cash is being used less and less, and has nearly disappeared in countries such as Sweden and China. At the same time, digital payment systems – PayPal, Venmo, and others in the west; Alipay and WeChat in China; M-Pesa in Kenya; Paytm in India – offer attractive alternatives to services once provided by traditional commercial banks. Most of these fintech innovations are still connected to traditional banks, and none of them rely on cryptocurrencies or blockchain . Likewise, if CBDCs are ever issued, they will have nothing to do with these...