South Africa's new law will ban pensions from investing in cryptocurrencies other than CBDCs.

On October 30, South African Finance Minister Enoch Godongwana promulgated a law restricting the withdrawal of members' investment funds under section 28. Current regulations allow market leaders to invest until to 2.5% of their members' funds in a variety of "other assets," including crypto assets (excluding CBDC). The new law now explicitly excludes cryptocurrencies from the new Government Gazette. Due to the lack of protectionist investors, South African regulators do not believe in cryptocurrency speculation, but they are always on the lookout for available information on the distribution of the technology. Section 28 is a law that defines the funds required to invest under the pension fund law, and aims to protect investors against overinvestment of assets. (Bencrypto)