First crypto platform approaches NBFIRA
Friday, April 29, 2022 | 2410 Views |
At the helm: NBFIRA CEO, Oduetse Motshidisi. The regulator has been charged with regulating the cryptocurrency industry in the country
Cryptocurrency operators are required to be licensed with NBFIRA by May 25 or face fines of up to P250,000 and/or five years in jail, under the recently passed Virtual Assets Act.
Yellow Card, a cryptocurrency exchange that allows clients to buy, sell and store bitcoin and other virtual assets, is active in 16 African states.
That a single private law firm pocketed P6.5 million for just four cases, out of a total P11.1 million paid for 25 matters, reeks of a system that was not merely disorganised but open to abuse.Bayford has taken a welcome first step by telling the Public Accounts Committee the truth. Now he must act decisively to ensure it never happens again and that any money lost to wrongdoing is recovered.The figures are staggering. Whilst ordinary Batswana...