Another central bank joins the camp of bitcoin opponents

by in Cryptocurrency News

South Africa

Many central banks periodically criticize Bitcoin and other digital currencies.

Last week, the People's Bank of China criticized digital currencies and urged citizens to stay away from such instruments.

The Reserve Bank of South Africa has joined those regulators who refuse to recognize digital assets as a full-fledged currency. Bitcoin and similar coins can be considered as a store of capital, said the head of the South African Central Bank, Lesetia Kganyago. However, they cannot be used to pay for goods and services, as such instruments do not meet generally accepted financial standards.

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Bitcoin is only recognized by those who use it themselves. At the same time, the Reserve Bank of South Africa does not intend to ignore the crypto sphere. He will regulate the activities of those crypto companies that operate in South Africa or plan to enter this country, said the head of the Central Bank.