South Africa’s Johannesburg Stock Exchange Rejects Sygnia Bitcoin ETF Application, Says Cryptocurrency Lacks Regulatory Framework

News.Bitcoin news, South Africa’s Johannesburg Stock Exchange (JSE) has rejected a request by asset manager Sygnia to list a new bitcoin exchange-traded fund (ETF). the JSE said the cryptocurrency lacks a regulatory framework.
It is understood that this will be Sygnia’s second attempt to list a crypto ETF, with a similar application in 2017 rejected by the JSE on the grounds that the exchange was not ready to approve a list of cryptocurrencies.
Also, in previous news, the South African IFWG CAR working group released a potential regulatory paper on crypto assets, covering three main areas such as cross-border financial flows.