South Africans may be attracted to the concept of an asset not
subject to government regulation; however, this sentiment only
holds partly true and careful consideration should be given to the
exchange control regulations of South Africa.
The rise of Bitcoin entails stories of an unknown founder,
futuristic technology, unintelligible jargon, the rise of untold
riches, youthful optimism and a hint of anarchy. Critics of Bitcoin
(or any crypto asset) will argue that there is no underlying value
to crypto assets and its merely a speculative bubble. Advocates of
Bitcoin will fiercely disagree with this sentiment highlighting
that like gold or fiat currencies, its value is derived from people
perceiving it to have value. One of the key drivers behind the
value of bitcoin is the perception that it is not subject to
government regulation.
