The dangers of over-regulating crypto

The dangers of over-regulating crypto

Proposed new exchange-control rules could cripple South Africa’s crypto industry, undermine self-custody and push transactions offshore, warns MoneyBadger CEO Carel van Wyk.

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South Africa’s attempt to bring crypto into the regulated financial system risks veering into over-regulation, potentially driving both businesses and transactions beyond the reach of local authorities.

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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.