According to Odaily Planet Daily, South Africa is the first African country to issue a license for a cryptocurrency exchange. In 2021, the country explored a separate regulatory framework for cryptocurrencies and plans to implement it by 2022, with the goal of issuing final regulations that year.
According to a report by Statista, the revenue of the South African cryptocurrency market is expected to reach $246 million in 2024, with an annual growth rate (CAGR 2024-2028) of 7.86%, reaching $332.9 million by 2028.
