Advertisement
AD

Main navigation

Error message

  • Warning: Attempt to read property "field_image" on null in Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard() (line 3147 of modules/custom/cryptocompare/src/TwigExtension/RemoveSpace.php).
    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('A recently premiered <a href="https://u.today/worlds-business-news-leader-cnbc-to-air-bitcoin-documentary">CNBC documentary</a> ‘Bitcoin: Boom Or Bust’ takes a closer look at the emerging cryptocurrency hub– South Africa. The residents of developing urban areas and poverty-stricken villages are expected to adopt Bitcoin en masse due to the absence of any viable payment solutions.
    
    <a href="https://u.today/crypto-startups-trying-to-save-africa-from-usd-hegemony">card</a>
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    
    
    Crypto as a necessity &nbsp;
    
    While the majority of people in America and Europe still feel iffy about cryptocurrencies, viewing them as a highly risky investment, South Africa residents simply don’t have a choice. Here, cryptocurrencies are more than just than a new trendy technology or a revolt against centralization– it is a necessity. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    
    CNBC’s Melissa Lee and a prominent crypto investor <a href="https://u.today/cryptotraders-ran-neuner-on-greed-crypto-market-cap-and-getting-off-blockchain">Mr. Ran NeuNer</a> took a trip to South Africa in order to find out what exactly fuels the rapidly increasing interest for crypto. They conducted an interview with an Uber driver named Kuda Kwashe who migrated from Nigeria in order to work in Cape Town.
    
    He has a family back in Zimbabwe, but sending them money is extremely difficult since an ordinary bank transfer takes up to a week. Kwashe claims that he can still use a bank transfer (the fees are widely expensive) or transfer money with the help of a bus driver. While all these options are unreasonable, there is only one solution left that ensures fast and secure transactions– cryptocurrencies.
    
    Crypto adopting is booming with regulatory uncertainty &nbsp;
    
    <a href="https://u.today/africas-blockchain-boom-building-from-south-africa-zimbabwe-and-kenya">Research data</a> shows that Africa is slowly becoming a crypto hub with plenty of money being poured into its local fintech startups. Case in point: SureRemit, a leading Kenyan cryptocurrency exchange, which raised $7 mln during its ICO.
    
    South Africa introduced <a href="https://u.today/south-africa-calls-bitcoin-cyber-token-not-a-currency">generally positive crypto regulations</a>, but it still failed to define crypto as an actually currently, sticking to the term ‘cyber token.’ Under the current legal framework, cryptocurrencies are treated as intangible assets, so they are still taxable. However, U.Today reported earlier how South African crypto traders <a href="https://u.today/south-africa-cracks-down-on-crypto-traders-who-dodge-taxes">overwhelmingly dodge taxes</a>.
    <a href="https://u.today/african-cryptocurrency-exchange-aims-for-1-bln-users">card</a>
    ') (Line: 1154)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
    __TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array) (Line: 474)
    Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1017)
    __TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 62)
    __TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
    Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
    Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
    Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
    Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
    Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
    call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
    Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
    Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
    Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
    Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
    Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
    Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
    Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
    Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
    
  • Warning: Attempt to read property "entity" on null in Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard() (line 3147 of modules/custom/cryptocompare/src/TwigExtension/RemoveSpace.php).
    Drupal\cryptocompare\TwigExtension\RemoveSpace::getcard('A recently premiered <a href="https://u.today/worlds-business-news-leader-cnbc-to-air-bitcoin-documentary">CNBC documentary</a> ‘Bitcoin: Boom Or Bust’ takes a closer look at the emerging cryptocurrency hub– South Africa. The residents of developing urban areas and poverty-stricken villages are expected to adopt Bitcoin en masse due to the absence of any viable payment solutions.
    
    <a href="https://u.today/crypto-startups-trying-to-save-africa-from-usd-hegemony">card</a>
        Advertisement
        
            
        
        
            
                    
                
                                                
    
            
            
                    
                
                                                
    
            
        
    
    
    Crypto as a necessity &nbsp;
    
    While the majority of people in America and Europe still feel iffy about cryptocurrencies, viewing them as a highly risky investment, South Africa residents simply don’t have a choice. Here, cryptocurrencies are more than just than a new trendy technology or a revolt against centralization– it is a necessity. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    
    CNBC’s Melissa Lee and a prominent crypto investor <a href="https://u.today/cryptotraders-ran-neuner-on-greed-crypto-market-cap-and-getting-off-blockchain">Mr. Ran NeuNer</a> took a trip to South Africa in order to find out what exactly fuels the rapidly increasing interest for crypto. They conducted an interview with an Uber driver named Kuda Kwashe who migrated from Nigeria in order to work in Cape Town.
    
    He has a family back in Zimbabwe, but sending them money is extremely difficult since an ordinary bank transfer takes up to a week. Kwashe claims that he can still use a bank transfer (the fees are widely expensive) or transfer money with the help of a bus driver. While all these options are unreasonable, there is only one solution left that ensures fast and secure transactions– cryptocurrencies.
    
    Crypto adopting is booming with regulatory uncertainty &nbsp;
    
    <a href="https://u.today/africas-blockchain-boom-building-from-south-africa-zimbabwe-and-kenya">Research data</a> shows that Africa is slowly becoming a crypto hub with plenty of money being poured into its local fintech startups. Case in point: SureRemit, a leading Kenyan cryptocurrency exchange, which raised $7 mln during its ICO.
    
    South Africa introduced <a href="https://u.today/south-africa-calls-bitcoin-cyber-token-not-a-currency">generally positive crypto regulations</a>, but it still failed to define crypto as an actually currently, sticking to the term ‘cyber token.’ Under the current legal framework, cryptocurrencies are treated as intangible assets, so they are still taxable. However, U.Today reported earlier how South African crypto traders <a href="https://u.today/south-africa-cracks-down-on-crypto-traders-who-dodge-taxes">overwhelmingly dodge taxes</a>.
    <a href="https://u.today/african-cryptocurrency-exchange-aims-for-1-bln-users">card</a>
    ') (Line: 1154)
    Drupal\cryptocompare\TwigExtension\RemoveSpace->formatbody(Array) (Line: 54)
    __TwigTemplate_75845256f703f5319a38e035b4af7dd9->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/field--body.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('field', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array) (Line: 474)
    Drupal\Core\Template\TwigExtension->escapeFilter(Object, Array, 'html', NULL, 1) (Line: 1017)
    __TwigTemplate_625426e732c5f7a66fde6d628d98a6b2->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 62)
    __TwigTemplate_e934e56c1e459c359b150360c7169113->doDisplay(Array, Array) (Line: 394)
    Twig\Template->displayWithErrorHandling(Array, Array) (Line: 367)
    Twig\Template->display(Array) (Line: 379)
    Twig\Template->render(Array, Array) (Line: 40)
    Twig\TemplateWrapper->render(Array) (Line: 53)
    twig_render_template('themes/cryptod/templates/node.html.twig', Array) (Line: 372)
    Drupal\Core\Theme\ThemeManager->render('node', Array) (Line: 436)
    Drupal\Core\Render\Renderer->doRender(Array, ) (Line: 204)
    Drupal\Core\Render\Renderer->render(Array, ) (Line: 238)
    Drupal\Core\Render\MainContent\HtmlRenderer->Drupal\Core\Render\MainContent\{closure}() (Line: 583)
    Drupal\Core\Render\Renderer->executeInRenderContext(Object, Object) (Line: 239)
    Drupal\Core\Render\MainContent\HtmlRenderer->prepare(Array, Object, Object) (Line: 128)
    Drupal\Core\Render\MainContent\HtmlRenderer->renderResponse(Array, Object, Object) (Line: 90)
    Drupal\Core\EventSubscriber\MainContentViewSubscriber->onViewRenderArray(Object, 'kernel.view', Object)
    call_user_func(Array, Object, 'kernel.view', Object) (Line: 111)
    Drupal\Component\EventDispatcher\ContainerAwareEventDispatcher->dispatch(Object, 'kernel.view') (Line: 187)
    Symfony\Component\HttpKernel\HttpKernel->handleRaw(Object, 1) (Line: 76)
    Symfony\Component\HttpKernel\HttpKernel->handle(Object, 1, 1) (Line: 58)
    Drupal\Core\StackMiddleware\Session->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\KernelPreHandle->handle(Object, 1, 1) (Line: 191)
    Drupal\page_cache\StackMiddleware\PageCache->fetch(Object, 1, 1) (Line: 128)
    Drupal\page_cache\StackMiddleware\PageCache->lookup(Object, 1, 1) (Line: 82)
    Drupal\page_cache\StackMiddleware\PageCache->handle(Object, 1, 1) (Line: 48)
    Drupal\Core\StackMiddleware\ReverseProxyMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\NegotiationMiddleware->handle(Object, 1, 1) (Line: 51)
    Drupal\Core\StackMiddleware\StackedHttpKernel->handle(Object, 1, 1) (Line: 704)
    Drupal\Core\DrupalKernel->handle(Object) (Line: 18)
    

South Africa Is Silently Becoming Epicenter of Crypto Gold Rush

Advertisement
Tue, 28/08/2018 - 20:38
South Africa Is Silently Becoming Epicenter of Crypto Gold Rush
Cover image via U.Today
Read U.TODAY on
Google News

A recently premiered CNBC documentary ‘Bitcoin: Boom Or Bust’ takes a closer look at the emerging cryptocurrency hub– South Africa. The residents of developing urban areas and poverty-stricken villages are expected to adopt Bitcoin en masse due to the absence of any viable payment solutions.

Related

Advertisement

Crypto as a necessity  

While the majority of people in America and Europe still feel iffy about cryptocurrencies, viewing them as a highly risky investment, South Africa residents simply don’t have a choice. Here, cryptocurrencies are more than just than a new trendy technology or a revolt against centralization– it is a necessity.        

CNBC’s Melissa Lee and a prominent crypto investor Mr. Ran NeuNer took a trip to South Africa in order to find out what exactly fuels the rapidly increasing interest for crypto. They conducted an interview with an Uber driver named Kuda Kwashe who migrated from Nigeria in order to work in Cape Town.

He has a family back in Zimbabwe, but sending them money is extremely difficult since an ordinary bank transfer takes up to a week. Kwashe claims that he can still use a bank transfer (the fees are widely expensive) or transfer money with the help of a bus driver. While all these options are unreasonable, there is only one solution left that ensures fast and secure transactions– cryptocurrencies.

Crypto adopting is booming with regulatory uncertainty  

Research data shows that Africa is slowly becoming a crypto hub with plenty of money being poured into its local fintech startups. Case in point: SureRemit, a leading Kenyan cryptocurrency exchange, which raised $7 mln during its ICO.

South Africa introduced generally positive crypto regulations, but it still failed to define crypto as an actually currently, sticking to the term ‘cyber token.’ Under the current legal framework, cryptocurrencies are treated as intangible assets, so they are still taxable. However, U.Today reported earlier how South African crypto traders overwhelmingly dodge taxes.

Related

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD