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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
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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