On January 16, 2019, the Financial Intelligence Centre (FIC), the Financial Sector Conduct Authority, the National Treasury, the South African Revenue Service and the South African Reserve Bank published a consultation paper on policy proposals for crypto-assets. These organisations formed the Intergovernmental Fintech Working Group (IFWG) to meet growing interest in financial technology, innovation and crypto-assets, establishing a common understanding, developing a regulatory framework and assessing related risks.