South Africa signals cautious stance on stablecoins
Deputy governor asks if they are efficient payment method or a means of circumventing regulations
The South African Reserve Bank (Sarb) “remains cautious about stablecoins”, a deputy governor at the institution has said.
In a speech today ( June 9) at the University of Pretoria’s Gordon Institute of Business Science, Rashad Cassim said stablecoins presented a “distinct challenge for central banks”, noting that unlike with central bank digital currencies, the issuers were typically private non-banks.
The deputy governor discussed the Sarb’s programme to upgrade infrastructure and regulation to
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