South Africa: Crypo-assets provisions in Supervisory guidelines for banks on money laundering, terrorist financing or other unlawful activity
Progress
Current status
under deliberation
15 Aug 2022 under deliberation
Scope
Implementers
South Africa
Policy Area
Authorisation, registration and licensing
Policy Instrument
Prohibition of goods and services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
central bank
Implementation Level
national
Timeline of events
Announced guidelines for safe and secure crypto-asset management in Supervisory guidelines for banks on money laundering, terrorist financing or other unlawful activity
On 15 August 2022, the South African Reserve Bank issued a guideline on risk management, illegal financing (e.g. terrorism), and anti-money laundering standards for banks and other institutions handling crypto-assets. The guideline states that, inst…
SourceEvent type
outline
Action type
announcement
Government branch
executive
Government body
central bank