High Court upholds joint liquidators’ role in MTI winding-up
The High Court ordered the applicants to pay punitive costs, saying their allegations were spurious and damaged the joint liquidators’ reputations.
Bitcoin
Legal precedent set as Odendaal’s assets forfeited in Steinhoff fraud battle
The SARB has forfeited to the state cash totalling R42m from Berdine Odendaal’s bank accounts, as well as her R18m property in Paarl’s Val de Vie estate.
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Bitcoin’s price discovery justifies a core holding
The primary supply of Bitcoin is running dry, and the secondary supply is limited.
Global recognition for MTI joint liquidators’ statutory powers grows
The creditors’ list in the Ponzi scheme stands at 8 550 as the joint liquidators prepare to submit the second liquidation and distribution account to the Master of the High Court.
US court orders SA ‘multilevel marketing scam’ to pay R32bn to victims
The order against MTI is in addition to the R65bn in penalties imposed on founder and CEO Johann Steynberg earlier this year.
Why I (want to) own Bitcoin
It appears that virtually most excesses, including malfeasance and possible manipulation of the Bitcoin market from December 2020 to June 2022, have been dealt with.
Cryptocurrency ownership in SA below global average
The rate of cryptocurrency adoption is higher in South Africa than in countries such as the United States, the United Kingdom and Germany – if the results of a survey conducted by consumer […]
Should asset managers own Bitcoin on behalf of clients?
Holding Bitcoin is akin to gambling, and private investors should only risk capital in cryptocurrencies that they are theoretically happy to lose, Allan Gray fund manager Thalia Petousis told the asset manager’s recent […]
Crypto Currency scam sets new “record”
Last year South Africa achieved yet another dubious record when the Mirror Trading implosion was regarded as the biggest crypto currency scam ever. On 23 June Moneyweb reports: Africrypt ‘hack’ of nearly R54bn […]
Elon Musk sets fire to the bitcoin and cryptocurrency debate
Tesla CEO Elon Musk, who has been a big supporter of cryptocurrencies, implied in a Twitter exchange on Sunday afternoon that the electric vehicle maker sold or may sell the rest of its […]
Regulating cryptocurrencies is a necessary next step
Four months after he disappeared, the estate of missing Mirror Trading International (MTI) CEO Johann Steynberg has been provisionally sequestrated. MTI was placed in provisional liquidation in December last year when investors tried […]
Regulating cryptocurrencies is a necessary next step
Four months after he disappeared, the estate of missing Mirror Trading International (MTI) CEO Johann Steynberg has been provisionally sequestrated. MTI was placed in provisional liquidation in December last year when investors tried […]
Crypto Assets – Draft declaration to define it as financial product
On Friday, the Financial Sector Conduct Authority (FSCA) published a draft declaration of crypto assets as financial products. “Globally there is rapid growing interest by retail investors to purchase crypto assets. South Africa […]
Fintech policies and regulatory frameworks – National Treasury programme update
“Financial Technology (FinTech) has become an increasingly popular phenomenon, with people familiarising themselves with crypto-currencies such as Bitcoin, SAFcoin and many others. The main issue with all these currencies is that they operate […]
