South Africa Raises Concerns About Crypto’s Potential for Financial Risk

In a move reflecting growing unease, South Africa’s central bank has flagged cryptocurrency and stablecoins as potential financial risks due to their rapid rise in popularity. The Reserve Bank of South Africa (SARB) acknowledges the increasing number of individuals engaging with cryptocurrencies like Bitcoin, Ethereum, and particularly stablecoins for transactions. These digital assets offer perceived stability, driving a surge in adoption across the nation.