{"id":12561,"date":"2021-09-27T04:54:08","date_gmt":"2021-09-27T04:54:08","guid":{"rendered":"https:\/\/www.buyucoin.com\/crypto-labs\/south-african-university-professor-urges-country-to-finalize-cryptocurrency-policy-warns-against-resisting-crypto\/"},"modified":"2021-09-27T04:54:08","modified_gmt":"2021-09-27T04:54:08","slug":"south-african-university-professor-urges-country-to-finalize-cryptocurrency-policy-warns-against-resisting-crypto","status":"publish","type":"post","link":"https:\/\/www.buyucoin.com\/crypto-labs\/south-african-university-professor-urges-country-to-finalize-cryptocurrency-policy-warns-against-resisting-crypto\/","title":{"rendered":"South African University Professor Urges Country to \u2018Finalize Cryptocurrency Policy\u2019 \u2014 Warns Against Resisting Crypto"},"content":{"rendered":"

A professor with the University of Johannesburg, Rabelani Dagada, has urged South Africa to finalize its cryptocurrency public policy if the country still wants to become a hub for digital currency innovation. <\/strong><\/p>\n

History Will Repeat Itself<\/h2>\n

In an opinion published<\/a> by Itweb, Dagada warned South African authorities that the continued efforts to stifle cryptocurrencies will not achieve the intended objectives. He adds that regulators must learn from history that violently opposing an emerging innovation will not kill it. He explained:<\/p>\n

Technology has prevailed against violent and regulatory opposition. During the era of the industrial revolution, some workers in Britain rioted against mechanised manufacturing firms. Blue-collar workers waged a war against technology. They physically destroyed production machinery, cotton and woollen mills.<\/p>\n

Dagada also shared a recent example of how \u201csome people in the UK and SA falsely accused 5G technologies of causing the COVID-19 pandemic, and destroyed some mobile networks\u2019 base stations.\u201d<\/p>\n

Opposing Cryptocurrencies Is a Futile Exercise<\/h2>\n

While South African authorities have not violently opposed cryptocurrencies, they have however refused to allow them to go mainstream. To illustrate this point, Dagada cites the Johannesburg Stock Exchange (JSE)\u2019s refusal to approve the application<\/a> by Sygnia to list bitcoin exchange-traded funds (ETF).<\/p>\n

Dagada insists however that if the JSE approved the application, South Africa \u201cwould possibly have become a hub of cryptocurrency innovation, especially if one considers the country has highly-sophisticated financial services among the developing economies.\u201d<\/p>\n

Nevertheless, Dagada points out in his opinion piece that new technologies always eventually prevail despite opposition. Similarly, just like earlier technologies, cryptocurrencies \u2014 which are a \u201cproduct of money and technology\u201d\u2014 will similarly prevail. Dagada also argued that in addition to being an exercise in futility, formalizing crypto-currencies works in favor of South Africa because such digital currencies \u201chold lots of taxable tax.\u201d<\/p>\n

Do you agree with the professor\u2019s opinions? Tell us what you think in the comments section below. <\/strong><\/em><\/p>\n

Bitcoin News
\nEmerging Markets, 2021 Bitcoin ETF, 5G network, Crypto tax, Cryptocurrency, Developing Countries, Johannesburg Stock Exchange, Rabelani Dagada, South Africa crypto policy, Sygnia<\/p>\n","protected":false},"excerpt":{"rendered":"

A professor with the University of Johannesburg, Rabelani Dagada, has urged South Africa to finalize its cryptocurrency public policy if the country still wants to become a hub for digital currency innovation. History Will Repeat Itself In an opinion published by Itweb, Dagada warned South African authorities that the continued efforts to stifle cryptocurrencies will…<\/p>\n","protected":false},"author":0,"featured_media":12562,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[53,3],"tags":[],"class_list":["post-12561","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-news","category-coin-news"],"_links":{"self":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12561"}],"collection":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/comments?post=12561"}],"version-history":[{"count":0,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/posts\/12561\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media\/12562"}],"wp:attachment":[{"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/media?parent=12561"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/categories?post=12561"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyucoin.com\/crypto-labs\/wp-json\/wp\/v2\/tags?post=12561"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}