South African Judge Criticizes Outdated Crypto Regulations
A South African High Court judge has called for modern cryptocurrency regulations, highlighting the country’s continued reliance on outdated laws from the Apartheid era. Judge Mandlenkosi Motha emphasized the need for progressive legal frameworks to keep pace with the global evolution of digital finance.
“Cryptocurrencies have been around for over 15 years. There’s no reason to regulate them under pre-digital laws,” the judge remarked during a recent court ruling.
The case in question involved Standard Bank and James Ewing & Sons, concerning international fund transfers to crypto exchanges. The ruling raised concerns over how the existing legal framework is failing to provide clarity and protection in digital asset transactions.
This incident exposes South Africa’s urgent need for regulatory reform that aligns with today’s decentralized financial ecosystem.
Kenyan Banks Signal Readiness for Crypto Integration
In neighboring Kenya, a Central Bank survey revealed that several commercial banks are preparing to support cryptocurrency payments. This marks a significant shift in sentiment, as East Africa begins to embrace digital currencies not just for investment, but also for practical use in remittances and mobile finance.
Kenyan banks are exploring partnerships and payment rails that would allow integration with digital wallets and blockchain platforms.
This growing openness signals potential for increased adoption of crypto in everyday financial systems, from retail payments to cross-border transfers. Kenya’s long-standing dominance in mobile banking through platforms like M-Pesa positions it well to adapt to crypto infrastructure.
Tether Expands into Africa Through Shiga Digital Investment
Tether, the issuer of the USDT stablecoin, has announced a strategic investment in Shiga Digital, a rising pan-African crypto and fintech platform. The move is part of Tether’s broader strategy to expand its presence across emerging markets in Africa.
Tether aims to improve financial access and infrastructure across the continent by supporting digital payment systems and blockchain-based services.
Shiga Digital plans to use the investment to accelerate development and integration across African markets. The partnership is expected to enhance stablecoin adoption in both urban and underserved regions.
Conclusion: Africa at a Regulatory and Technological Crossroads
With South African judges calling for legal modernization, Kenyan banks preparing for crypto services, and Tether investing in regional infrastructure, Africa is emerging as a key player in the global digital economy.
The continent stands at the intersection of regulatory evolution and fintech innovation, poised for transformative growth in cryptocurrency adoption.