Will the new cryptocurrency Bill sweeten or sour the industry?

Mmegi: How feasible is it that the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) would attempt to license companies offering virtual assets such as cryptocurrencies to Batswana, given that in most cases these products are not offered by registered companies?

Moumakwa: For people who understand the principle behind cryptocurrency as established by its originators, licensing will always be interesting. However, licensing itself is not a strange intention. Virtual assets, especially cryptocurrencies, which are the real target of the Bill, are a specialised, highly technical area. Therefore, it is not entirely surprising that one would think of a licence because of the nature of the business, which plays in the financial services ground. Big cryptocurrency providers like Coinbase in the United States of America, are licensed to provide their services.