South Africa plans to unveil cryptocurrency rules in 2022 - Bloomberg

• While some financial regulators around the globe focus on exploring ways to regulate volatile digital assets, South Africa plans to release crypto rules early next year, Bloomberg reports.
• The rules will establish how trading digital tokens such as Ethereum (ETH-USD), Ripple (XRP-USD) and Litecoin (LTC-USD) should be conducted, FSCA Commissioner Unathi Kamlana told Bloomberg in an interview.
• South Africa's financial regulator will also examine how the tokens interact with traditional financial products, the risks to bank balance sheets and fiscal stability, Bloomberg notes.
• Meanwhile, the regulator is monitoring South African Reserve Bank's plans to develop its own stable coin, Kamlana said. "The best outcome in terms of stable coins is what comes out of central bank innovation, given their reliability and stability."

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