South Africa Prepares for Stablecoin Impact: Regulatory Concerns Over Crypto Adoption

The South African Reserve Bank (SARB) has moved cryptocurrency off the sidelines and into the spotlight, classifying stablecoins as a significant financial risk. The SARB’s latest Financial Stability Review highlights the rapid growth of dollar-pegged stablecoins, which are now overtaking volatile cryptocurrencies in trading volume on local platforms. This shift presents new challenges for South African regulators, who must ensure transparency and stability within the evolving cryptocurrency landscape.