GoTyme Bank has confirmed it has signed up to Catastrophe, the industry coalition campaigning against draft rules that would bar South African companies from making cross-border payments in cryptocurrency, saying the country’s regulatory framework should apply “consistent standards to equivalent financial activities, regardless of the technology used”.

“This is not a position on whether crypto should be regulated – it should be,” bank spokeswoman Pontsho Ramontsha told TechCentral. “It is a position on how: consistently, fairly and aligned with regulatory purpose rather than technology labels.”

The digital bank, which dropped the TymeBank name this year and says it has just over 13 million customers in South Africa,…