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.

The Act was passed as part of tighter Anti Money Laundering/Combating Financing of Terrorism and Proliferation (AML/CFT-P) protocols instituted by the country as part of upgrading the financial sector to the highest global standards.


As a cryptocurrency exchange, Yellow Card allows clients to directly buy, sell, and store bitcoin and other virtual assets. The group is active in 16 African states and states it is the biggest cryptocurrency player in Botswana.

Editor's Comment
Tighten the law on drug dealers

Our youth are perishing; their once hopeful bright future is going down the drain; all because of illicit drugs.It is very easy to blame the addict, but it is not as simple as that! Drug dealing is a very lucrative business for some shameless people amongst our society and as such they have come up with tight strategies on how to push their business.Drug addiction is bad, and while the individual on drugs sometimes might have been the one who...

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