South African Officials Consider National Cryptocurrencies “Too Risky

The South African Reserve Bank (SARB) has portrayed the advancement of national cryptographic forms of money as "excessively dangerous" for the national bank, making it impossible to consider. The announcement has been made amid a time of expanding advancement of national digital forms of money with respect to tyrant governments.

Amid a current keynote address at the 2017 Strate GIBS Fintech Innovation Conference, Deputy legislative head of the South African Reserve Bank, Francois Grope, hasdescribed the plausibility of building up a national digital money as "excessively hazardous".