South Africa has classified cryptocurrency assets as financial products. This was announced through a recent notification from the country’s Financial Sector Conduct Authority.
The modification aligns digital assets with the regulatory framework in South Africa.
According to the notice, a ‘crypto asset’ has been defined as a ‘digital representation of value’ that is not issued by a central bank, but may be exchanged, transferred, or kept electronically ‘for the purpose of payment, investment, and other types of utility’.
The change, which came into effect right away, and is covered by the Financial Advisory and Intermediary Services Act of 2022, comes as governments all over the world work to more strictly regulate cryptocurrencies, particularly in light of recent price volatility and the failure of several significant crypto firms.
The deputy governor of South Africa’s central bank had earlier declared this summer that the institution had begun to perceive cryptocurrencies as financial assets, and it was considering regulating the space.
FanCraze Will Signal Dhoni And Kohli’s Debut Into NFTs
Former Indian cricket captains Mahendra Singh Dhoni and Virat Kohli are planning to introduce their individual digital collectibles, i.e., non-fungible tokens (NFTs), around the upcoming T20 ICC Cricket World Cup.
According to a report in the Economic Times, to unveil their player cards on the FanCraze platform, Dhoni and Kohli have both entered into an exclusive partnership with Web 3.0 firm, FanCraze.
Along with IPL teams like the Chennai Super Kings and Delhi Capitals, other well-known FanCraze partners include Rohit Sharma, Hardik Pandya, Suryakumar Yadav, Ravindra Jadeja, Shikhar Dhawan, Ravichandran Ashwin, Yuzvendra Chahal, Shreyas Iyer, Muthiah Muralidaran, and Jonty Rhodes.
FanCraze is getting ready to launch new digital collectibles with video clips from the Asian Cricket Council (ACC), Cricket West Indies (CWI), and other cricket federations, as well as player cards of the aforementioned superstars and IPL teams.
At present, FanCraze has more than 120,000 video collectibles on its platform featuring the greatest moments in World Cup history.
As part of FanCraze’s innovative ‘see now, buy now’ experience, wherein drops occur the day before each T20 World Cup game and users purchase these special ‘Crictos Of The Game’ packs via FanCraze’s randomised queuing system, fans will have the option to pre-order packs, including moments that have not yet even occurred.
TVS Motor Introduces New Raider variation In Metaverse
Indian two-wheeler maker TVS Motor Company has launched a new motorcycle targeted at the Gen Z rider. Named, ‘TVS Raider’, it comes equipped with ‘SmartXonnectTM technology for the GenZ’, and is available at a price of Rs. 99,990 (ex-showroom, New Delhi).
The bike is available in two shades: black and yellow, according to a report in Business Line. Bookings for the motorcycle began on October 19, 2022.
The ‘TVS Raider’ provides a host of cutting-edge features, including a 5-inch TFT cluster that is a segment-first, and comes with connection technology. The rider can link with the bike through the TFT console through a unique mobile app. The state-of-the-art Bluetooth-enabled device offers a variety of analytics to assist riders in analysing their riding pattern and style. The motorbike also features an incoming call capability, image transfer options, and voice and navigation help, among others.