South Africa’s 2024 budget review highlighted the need for structural reforms and a focus on improving public financial management.
The annual budget of South Africa revealed its treasury’s plan to promote the adoption of digital payments, which includes analyzing stablecoins and blockchain to “improve the lives and livelihoods of marginalized groups.”
The country's 2024 budget review highlighted the need for structural reforms and a focus on improving public financial management. While detailing its plan to promote digital payments, the Treasury announced a nearing policy change on crypto assets, specifically for stablecoins.
The working group published a crypto regulation paper in June 2021, which will be amended to include stablecoins into the crypto asset class in addition to finalizing a diagnostic of the domestic stablecoin landscape. The report read:
