South Africa’s Central Bank Addresses Illicit Money Transfers in Bitcoin
The South African central bank is currently working on a way to prevent the evasion of currency controls. According to the Reserve Bank of South Africa, cryptocurrencies are used on a “regular basis” for this type of purpose.
This news isn’t entirely surprising, as other banks in the country have begun to clamp down on cryptocurrencies as well. As part of the proposal, the central bank will continue to limit the amount of money to be moved out of South Africa.