NBFIRA licences Yellow Card exchange
Wednesday, October 12, 2022 | 1760 Views |
In check: NBFIRA requires all cryptocurrency operators including exchanges to licence if they offer services in Botswana PIC.WWW.LIVEMINT.COM
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.
It is a clear signal that the government’s purse is empty and that our own behaviour has left veterinary officials fighting with one hand tied behind their backs. We have been here before. During COVID-19, many of us thought we knew better. We ignored simple rules, we carried on as if the danger was someone else’s problem, and the virus took lives and left our economy on its knees. We are still broke from that experience. Yet now, with FMD...