R2.2bn in investment on hold over proposed crypto controls – VALR

R2.2bn in investment on hold over proposed crypto controls – VALR

VALR CEO Farzam Ehsani warns that the draft crypto rules on exchange controls could drive businesses, jobs and tax revenue offshore.

You can also listen to this podcast on iono.fm here.

At least R2.2 billion in potential foreign investment in South African crypto businesses has been placed on hold because of uncertainty over proposed new exchange control rules, according to VALR co-founder and CEO Farzam Ehsani, speaking on this week’s Moneyweb Crypto Pod.

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The Writer's Room is a curated by Ciaran Ryan, who has written on South African affairs for Sunday Times, Mail & Guardian, Financial Mail, Finweek, Noseweek, The Daily Telegraph, Forbes, USA Today, Acts Online and Lewrockwell.com, among others. In between he manages a gold mining operation in Ghana, and previously worked in Congo. Most of his time is spent in the lovely city of Joburg.