Professor of the South African university emphasizes the country to conclude cryptocurrency policy - warns of resistance to crypto - emerging countries

A professor of the University of Johannesburg, Rabelani Dagada, has asked South Africa to complete his public policy for cryptocurrencies if the country would like to continue to be a center for digital currency innovations.

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In an opinion published by itweb, Dagada warned the South African authorities that the continued efforts to suppress Goals will not achieve. He adds that the regulatory authorities have to learn from history that violent resistance to an emerging innovation will not kill them. He explained:

Although the South African authorities have not violently combated cryptocurrencies, they have refused to bring them to the mainstream. In order to illustrate this point, Dagada quotes the refusal of the Johannesburg Stock Exchange (JSE), the Application from Sygnia to list Bitcoin Exchange Traded Funds (ETF).

Dagada insists that if the JSE had approved the application, South Africa "might have become a center for cryptocurrency innovations, especially if you consider that the country has highly developed financial services in developing countries".

Nevertheless, Dagada points out in his opinion that new technologies ultimately always prevail despite resistance. Similar to previous technologies, cryptocurrencies - which are a “product of money and technology” - will also prevail. Dagada also argued that the formalization of cryptocurrencies was not only a senseless exercise, but also in favor of South Africa, since such digital currencies "contain many taxable taxes".

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