South African rand South African rand The rand (sign: R; code: ZAR) is the currency of South Africa. The Rand is subdivided into 100 cents (sign: "c"). The ISO 4217 code is ZAR, from Dutch "Zuid-Afrikaanse Rand" (South African Rand). The Rand is legal tender in the Common Monetary Area between South Africa, Swaziland (Eswatini), Lesotho, and Namibia, although the last three countries do have their own currencies pegged at par with rand. Before 1976, the rand was legal tender in Botswana. The Rand takes its name from the WitwatersRand ("white waters' ridge" in English), the ridge upon which Johannesburg is built and
Virtual currency Virtual currency Virtual currency, or virtual money, is a type of unregulated, digital money, which is issued and usually controlled by its developers and used and accepted among the members of a specific virtual community. The U.S. Commodity Futures Trading Commission has warned investors against pump and dump schemes that use virtual currencies. The Financial Crimes Enforcement Network (FinCEN), a bureau of the US Treasury, defined virtual currency in its guidance published in 2013. In 2014, the European Banking Authority defined virtual currency as "a digital representation of value that is neither issued by a central bank or a public