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BREAKING NEWS: South African government may regulate Bitcoin and other cryptocurrencies



The South African Government has established an intergovernmental working group which is looking at potentially regulating cryptocurrencies.

This is according to Finance Minister Malusi Gigaba, answering parliamentary questions submitted by FF Plus chairperson Anton Alberts.

According to Gigaba, South Africa’s government is thoroughly aware of the technological developments in cryptocurrencies.

The working group was established in December 2016, and will work with private sector experts to monitor developments – with the aim of possibly regulating the industry.

“The position on virtual or cryptocurrencies is that they are currently not regulated – they operate without the authority of central banks,” said Gigaba.

The working group will develop an approach and potential revised policy stance towards fintech developments – including cryptocurrencies.

It will also assist the government in dealing with fast-emerging tech in the Financial sector, like crowdfunding, robo-advice, machine learning, and alternative payment platforms.

“A balanced approach is being taken, which is supportive of the objectives of enhanced innovation, competition, and financial inclusion in the financial sector, while also reviewing risks related to financial customer protection, money laundering, and financial stability.”



# Name Market Cap PriceCirculating Supply Volume (24h) % Change (24h)Price Graph (7d)
1 Bitcoin $47,725,274,672 $2895.67 16,481,600 BTC $956,783,000 5.21%
2 Ethereum $20,988,901,365 $223.99 93,705,891 ETH $1,079,660,000 12.79%
3 Ripple $6,633,043,011 $0.173037 38,333,090,674 XRP * $74,147,000 5.21%
4 Litecoin $2,263,884,223 $43.32 52,262,457 LTC $272,058,000 7.71%
5 NEM $1,546,389,000 $0.171821 8,999,999,999 XEM * $3,408,810 5.30%
6 Dash $1,371,642,161 $183.85 7,460,659 DASH $35,469,900 4.47%
7 Ethereum Classic $1,362,777,288 $14.48 94,105,355 ETC $69,894,200 5.63%
8 IOTA $742,632,121 $0.267179 2,779,530,283 MIOTA * $2,947,710 3.70%
9 Monero $633,611,130 $42.61 14,869,138 XMR $14,263,200 5.56%
10 Stratis $534,691,415 $5.43 98,485,653 STRAT * $9,405,490 13.52%
11 EOS $457,996,634 $1.79 255,233,799 EOS * $36,735,700 2.74%
12 BitConnect $391,566,877 $62.02 6,313,752 BCC $642,963 -4.64%
13 Qtum $382,360,710 $6.48 59,000,000 QTUM * $19,312,200 17.71%
14 NEO $378,435,000 $7.57 50,000,000 ANS * $11,894,800 4.46%
15 Zcash $350,454,075 $187.99 1,864,256 ZEC $25,747,900 8.35%
16 BitShares $336,552,928 $0.129576 2,597,340,000 BTS * $34,145,300 3.99%
17 Veritaseum $323,853,626 $161.42 2,006,279 VERI * $980,669 10.35%
18 Tether $318,382,320 $0.996498 319,501,213 USDT * $101,988,000 -0.41%
19 Iconomi $307,235,318 $3.54 86,900,350 ICN * $3,251,370 11.51%
20 Steem $293,020,479 $1.23 238,487,848 STEEM $772,874 1.66%
21 Waves $287,901,000 $2.88 100,000,000 WAVES * $2,175,130 3.63%
22 Siacoin $239,913,429 $0.008499 28,228,463,474 SC $5,796,590 7.58%
23 Bytecoin $227,600,074 $0.001242 183,193,878,023 BCN $1,112,840 4.20%
24 Gnosis $224,870,223 $203.58 1,104,590 GNO * $741,168 11.85%
25 Lisk $218,006,031 $1.98 110,338,665 LSK * $1,850,330 9.88%
26 Golem $203,364,770 $0.244126 833,032,000 GNT * $2,494,720 5.95%
27 Dogecoin $196,264,044 $0.001777 110,464,872,893 DOGE $4,062,450 5.50%
28 Status $194,292,606 $0.055984 3,470,483,788 SNT * $22,482,200 10.34%
29 Augur $193,680,300 $17.61 11,000,000 REP * $1,296,460 6.12%
30 Stellar Lumens $184,981,727 $0.017088 10,825,178,187 XLM * $5,415,550 8.20%
31 Byteball $176,420,867 $482.15 365,903 GBYTE * $399,706 5.21%
32 DigiByte $156,519,561 $0.017904 8,742,253,657 DGB $6,469,320 10.20%
33 Decred $156,167,662 $28.68 5,444,968 DCR $1,241,880 8.29%
34 Factom $154,535,455 $17.65 8,753,219 FCT * $2,878,960


This post first appeared on The Edge Search, please read the originial post: here

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BREAKING NEWS: South African government may regulate Bitcoin and other cryptocurrencies

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