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South African Government to Add Crypto Entities to ‘List of Accountable Institutions’

December 2, 2022


Amendments to Financial Intelligence Centre Act

The South African government recently said persons operating crypto-related businesses will be added to the list of accountable institutions in regard to the regulatory purview. According to a Nov. 29 Government Notice, the addition of crypto businesses to this list follows an amendment of schedules 1, 2, and 3 of the Financial Intelligence Centre Act, 2001. The changes to the Act, which come into effect on Dec. 19, were made by the South African minister of finance, Enoch Godongwana.