South Africa’s Central Bank Highlights Crypto Risks in New Financial Stability Report

The South African Reserve Bank (SARB) has issued its second financial stability report for 2025, indicating a growing concern regarding the potential risks posed by cryptocurrencies and stablecoins. The report highlights the rapid rise in user base, exceeding 7.8 million on major exchanges, with nearly $1.5 billion in custody at year-end 2024. 💰 The SARB specifically notes that crypto’s borderless nature facilitates circumvention of exchange control regulations, posing a challenge for financial stability.