South African Reserve bank says bitcoin not a legal tender, : regulation move

[Denker]

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.

Read More => https://zycrypto.com/south-african-reserve-bank-bitcoin-not-legal-tender/

Bitcoin isn't legal tender in almost any country on this planet.
That's no problem for continuing it's journey of user adoption, merchant adoptions and technological progress.
Bitcoin will continue to thrive, no matter what governments or central banks have to say. And they know this! Believe me! They know this!!
They can slow it down a bit, and spread FUD to get themselves as much BTC as possible, but they can not stop it.

[Pursuer]

Total bullshit. Without bitcoin money laundering happened. And will continue to happen. Bitcoin is not the problem. Authorities incompetence is.

bitcoin is money so it is obvious that like any other form of money, some people will use it in illicit activities. and the funny thing about bitcoin and money laundering is that it is not even a small issue
it is something like for every 10 million dollar that is laundered through fiat currencies, 1 dollar worth is being laundered through bitcoin! and the reason is obvious: fiat is impossible to trace but bitcoin is simply traceable. everything about bitcoin is public on the blockchain for the world to see! you would use this over anonymous cash I wonder?

[STSMiner]

Swiss town to accept tax payments in bitcoin >> https://www.rt.com/business/403072-switzerland-taxes-bitcoin-payment/  << Does this class it as legal tender even though you can't hold Bitcoins in your hand ?

IRS ---- Capital Gains Tax (USA)   << Does this class it as legal tender even though you can't hold Bitcoins in your hand ?
There are others, search for them via the internet

Legality of bitcoin by country or territory  >> https://en.wikipedia.org/wiki/Legality_of_bitcoin_by_country_or_territory   << Does this class it as legal tender even though you can't hold Bitcoins in your hand ?

Crypto's -- multi usage - shares (1 Bitcoin has 1,000,000 units,  EG. 0.001500 units = $5.50 << dependent on the exchange rate at the current time) / investment / earnable / spendable / tradable / giftable and so on once you exchange them for Bitcoins.  << Does this class it as legal tender even though you can't hold Bitcoins in your hand ?

You can spend them to pay for goods on the internet, you can earn them, you can gift them, you can trade them, you can exchange them for fiat, you can buy / rent a home with them.  << Does this class it as legal tender even though you can't hold Bitcoins in your hand ?

[FarkMcBark]

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.

Read More => https://zycrypto.com/south-african-reserve-bank-bitcoin-not-legal-tender/

They will be left behind. Adopt or stay behind!