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Wednesday, August 2, 2017

South African Finance Minister on Bitcoin Future: Lot of Potential

South African Finance Minister on Bitcoin Future: Lot of Potential

The development of cryptocurrencies, especially in countries like South Africa, has seen the question on their future posed to government ministers, with Finance Minister Malusi Gigaba tackling the question positively.

Currently, cryptocurrencies are not regulated in South Africa, but a number of private businesses operate within their sphere of influence and Gigaba has said that the government is in conversation with these businesses.

Gigaba was replying to an opposition party’s question on Bitcoin when asked what the government's position on the developing market for cryptocurrencies was, and whether he intended to regulate the market.

“As noted, the relevant authorities continue to monitor and assess the use of virtual currencies and consult with private sector stakeholders in this regard. Further guidance or regulations may be issued, should the need arise,” he said.

Full story at

Source: CoinTelegraph

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