The plan proposed by Sumar also seeks to classify all cryptocurrencies as seizable assets and require the introduction of a visual “risk traffic light” warning system for investors.
This concern cited by the South African Reserve Bank is driven by the growing user base and the borderless nature of digital assets, which can be used to bypass Exchange Control Regulations.
Bitcoin fell under $95,000 amid a broad four-day decline triggered by heavy losses in AI and tech stocks, mounting macro pressures and thinning crypto-specific flows.
Circle Internet Group posted $740 million in third-quarter revenue and reserve income – 66 % year-on-year growth – as USDC circulation surged and the company advanced its Arc blockchain initiative.
Kazakhstan is creating a national crypto-asset fund worth up to $1 billion, using seized digital wallets and targeting investments in ETFs and blockchain-linked companies.