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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
Botswana must not be a flag of convenience for rogues

‘A man’s country is not a certain area of land, of mountains, rivers, and woods, but it is a principle and patriotism is loyalty to that principle’.- George William CurtisAccording to the report carried in this publication, the fraudsters operating the so-called “dark fleet” have selected Botswana’s flag as their cover of choice. This is a direct assault on our country’s most valuable asset, the good name.For decades, Botswana has...

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