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NBFIRA licences Yellow Card exchange

In check: NBFIRA requires all cryptocurrency operators including exchanges to licence if they offer services in Botswana PIC.WWW.LIVEMINT.COM
In check: NBFIRA requires all cryptocurrency operators including exchanges to licence if they offer services in Botswana PIC.WWW.LIVEMINT.COM

African cryptocurrency exchange, Yellow Card, has received licensing to conduct its business in the country, the first operator to be permitted under the new Virtual Assets Act.

In a notice on Tuesday, the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) said it had issued a licence to Yellow Card Botswana, the African exchange’s local unit.

Under the Virtual Assets Act, passed in February, any operator providing cryptocurrency and related virtual assets in Botswana is required to be licensed with NBFIRA or face fines of up to P250,000 and/or five years in jail.

Editor's Comment
BDF visitation approval a welcome development

BDF camps are military camps, and there is a need for stricter rules and regulations to safeguard their operations as well as ensure the safety of civilians. Of course, military personnel are human, and they have relatives as well as girlfriends and boyfriends, but the fact remains that the BDF is responsible for ensuring national security and stability and, as such, will be one of the first targets in the event of possible attacks. The decision...

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