South African Reserve Bank says bitcoin is not a legal tender because only the banks are capable and authorized by the South African Government to issue a legal tender.
Continuous regulatory governments involvement in bitcoin keeps on spiking up, due to the huge popularity that the cryptocurrency has gotten and went extremely mainstream.
The bank thinks that there are huge risks on cryptocurrencies, like for money laundering and legal uncertainty caused by lack of regulation.
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https://zycrypto.com/south-african-reserve-bank-bitcoin-not-legal-tender/Of course bitcoin is not legal tender. it is not issued by a government and nobody is forced to use it as a currency. You are able to use it when you want to where you want to, nobody ever claimed that bitcoin is legal tender.
This seems to be to be an excuse for the South African government to start restricting access to bitcoin.
I'm all for regulation, if it is healthy. However, recently the Chinese government has come out with some pretty limiting and restrictive regulations that i personally don't agree with. Hopefully the SA government knows better.