On Friday, the South African government published a draft change to regulations to ban pension fund investment in cryptocurrencies. However, its description seems to catch stocks and bonds, which could limit the activities of pension funds in the near future. Several incumbent regulated institutions are working on tokenizing conventional assets, some of which might be issued natively on blockchain.
The term crypto-assets covers a broad range of assets that use blockchain, including cryptocurrencies, stablecoins and tokenized conventional assets such as stocks, bonds and real estate.
South African’s draft regulation adds crypto-asset to a list of assets with restrictions for pension funds, but its definition is rather broad.
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