ARTICLE · 16 JULY 2020

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Crypto Assets – Some Developments In SA?

SchoemanLaw Inc.

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A crypto asset is a digital representation of value that is not issued by a central bank but is traded, transferred and stored electronically by natural and legal persons for payment, investment and other forms of utility.

South AfricaTechnology

Nicolene Schoeman-Louw

A crypto asset is a digital representation of value that is not issued by a central bank but is traded, transferred and stored electronically by natural and legal persons for payment, investment and other forms of utility, and applies cryptography techniques in the underlying technology.

In addition, Crypto Assets are applications that are associated with blockchain technology.

One of the most pertinent reasons why crypto assets are challenging to regulate is because they operate at a global level and could potentially be classified under various economic functions.

It has been a focus in the media for some time; as a result, The Position Paper on Crypto Assets was published by National Treasury in April 2020 (the "Paper").¹This paper made many suggestions on how the regulatory framework in South Africa should be updated.

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