Sarb plans to introduce regulations on the use of digital currencies

Specifically, the South African Reserve Bank (Sarb) plans to introduce regulations on the use of digital currencies, or bitcoins, in an attempt to prevent them from being used to circumvent currency controls.

Sarb Deputy Governor Kuben Naidoo announced last week that the rules would be put in place in the first quarter of next year, telling journalists. To verify this, Naidoo was not available immediately, and other Sarb officials we....