South Africa: Announced guidelines for safe and secure crypto-asset management in Supervisory guidelines for banks on money laundering, terrorist financing or other unlawful activity
Description
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…
Scope
Policy Area
Authorisation, registration and licensing
Policy Instrument
Prohibition of goods and services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central bank