South Africa to license 60 cryptocurrency platforms by month-end, becoming one of the first African nations to regulate digital-asset exchanges.
South Africa is set to license around 60 cryptocurrency platforms by the end of the month, making it one of the first nations on the continent to require digital-asset exchanges to have permits to operate. The Financial Sector Conduct Authority (FSCA) has received over 300 applications and will oversee the firms under the existing Financial Advisory and Intermediary Services Act. The move aims to regulate the growing crypto industry and protect consumers from financial risks.
March 13, 2024
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