DaxMenday

I only access this app while drunk. 👈🏻 so ya.

[DaxMenday @DaxMenday]

"The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little." -- FDR, Inaugural Address, January 20, 1937.

[DaxMenday @DaxMenday]

@JamesMillerHi You sir, are an idiot. Go jump in a tiger cage..

[DaxMenday @DaxMenday]

@thevivafrei Well. He kind of shot a donkey so maybe, “heee haw”

[DaxMenday @DaxMenday]

@FinanceGhost @JordiGriff I wouldn’t call all people that support FF+ far right… personally not a supporter but don’t fall into the trap.

[Farzam Ehsani @farzamehsani]

Tomorrow (30 September) is the last day to submit comments to National Treasury and SARB on the Draft Crypto Asset Manual. Please do.

One point worth considering in your submission:

The proposed Authorised CASP framework appears to be modeled on the existing ADLA framework used in foreign exchange. (CASP = Crypto Asset Service Provider & ADLA = Authorised Dealer with Limited Authority)

But there is a critical difference.

In FX, an ADLA sits below an Authorised Dealer (a bank with broader authority). If a transaction falls outside the ADLA’s mandate, a client can still go to a bank.

There is no equivalent upper tier for crypto.

No bank or crypto exchange or any other entity is being authorised under the draft manual to provide the crypto activity that an Authorised CASP is prohibited from providing.

So a limitation that is relative in the FX system would become a prohibition in the crypto system.

The result is that two businesses trying to facilitate economically equivalent cross-border payments would face very different regulatory outcomes purely because one uses conventional banking rails and the other uses crypto rails.

The restriction attaches to the technology rather than the underlying risk or economic activity.

In essence, this bans crypto assets from being used as a cheaper, faster, and more transparent payment mechanism by all South African businesses.

This outcome is neither fair nor technology agnostic nor in the best interest of South Africa.

New technology should be regulated appropriately. Regulation should focus on the economic activity and risks involved, and allow useful new technologies to compete... not prohibit them without a sound, risk-based justification.

Please submit your comments by tomorrow. South Africa needs to get this right.

[Repost for reach if you'd like to help]

[DaxMenday @DaxMenday]

@GadSaad I think this is staged. Listen to the echo. No people. Ignore.

[DaxMenday @DaxMenday]

@catturd2 These ladies reckon they can apologise for anything…

[DaxMenday @DaxMenday]

@VinnyLingham We are in a recession. I keep saying it. No one agrees..

[DaxMenday @DaxMenday]

@PGATour @PresidentsCup Hold my beer 🇿🇦

[DaxMenday @DaxMenday]

@avstorm Why???

[DaxMenday @DaxMenday]

@Adverttown Bro, Glenvista is underrated.

[DaxMenday @DaxMenday]

@jamierkennedy Not the same…

[DaxMenday @DaxMenday]

@GaytonMcK Fuck me you just wasting our money on your ego doggg..

[DaxMenday @DaxMenday]

@itismarkharris My guy. I lost that thing after 1 second… how about both..

[DaxMenday @DaxMenday]

@CurtisHouck Myyyyy brother.

[DaxMenday @DaxMenday]

@TheLinzerShow Fuck off.

[DaxMenday @DaxMenday]

@Jason I’m glad you also don’t like using punctuation…. Like a psycho.

[DaxMenday @DaxMenday]

@azania1023 “The real cat”. He’s a fucking drug dealing, people killing criminal.. what you mean we witnessed the real one.. 🤣🤣🤣

[DaxMenday @DaxMenday]

@JohannBiermann1 People keep on saying no recession but I disagree.

[DaxMenday @DaxMenday]

Fuck me social media people just take sport and try turn it into a story the whole time.. let me just watch the game mate…

[DaxMenday @DaxMenday]

@22Ours You may be a little early on the Mandani thing 😂