South Africa's crackdown on hardware wallets😰😰🥶🥶

South Africa's crackdown on hardware wallets😰😰🥶🥶

By Rexicon | Stablish | 24 Nov 2024


Recently, the revenue services announced intent to find a method to intercept hardware wallets transactions. Or any transaction that is isn't linked to the transactor's identity.

How exactly do they plan to do that, they figured many buy crypto's through third party apps that gain temporary access to your bank account. 🚩Flagging these middle men as infringing upon the bank's integrity.

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Entities such as LUNO, for most South Africans, bitpay, to name a few.

This clause states that, any amount of 5k in South African Rands, $277, and above. Should be  barred from processing, unless the transactor has verified identity.

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Well, personally, I do not object to having my keys having my signature, if only you could subtly attach a signature that only technical experience would allow revelation. 🤷🏽‍♂️

Think like a programmer, right!?!😅

As a citizen, I do acknowledge that our law makers are of age, certain things a bit too radical. Especially if the youth around them are also reeling between determination and blind ambition. Right? Right? Yeah...😂

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How was your weekend by the way? Mine was quiet, as I usually prefer my weekends, ageing, huh?😅

Oh, and by the way. South Africa, Cape Town has a crypto only town!!!🫡🫡🫡

Please chance my music:

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Let's earn passive income:

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Let's play games for NFT'S:

https://go.getwombat.io/R3M8

 

Thank you

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