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Crypto oversight gaps persist in Botswana

Digital future: Reviewers believe the country needs tighter oversight of the crypto sector PIC: WWW.LIVEMINT.COM
Digital future: Reviewers believe the country needs tighter oversight of the crypto sector PIC: WWW.LIVEMINT.COM

Botswana has made measurable progress in strengthening its Anti-Money Laundering and Counter Financing of Terrorism (AML/CFT) framework, but shortcomings remain in its oversight of Virtual Asset Service Providers (VASP).

This is according to the latest follow-up assessment conducted by the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG).

VASP are companies or individuals that help people buy, sell, exchange, store or manage virtual assets like cryptocurrencies.

Editor's Comment
Gov't, unions must find common ground

The situation is exacerbated by the ruling party’s admission that some of its most important election promises remain unfulfilled. This is not the change many Batswana had expected. The UDC was elected into power on a strong promise to improve lives, create jobs, protect workers and repair public services. It is therefore, not enough for the party to point only to new ministries, policies and long-term plans. These may be necessary, but...

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