- South Africa’s crypto regulation remains robust despite political shifts, driven by independent regulatory bodies.
- The FSCA’s licensing regime positions South Africa as a leader in African crypto regulation.
- Collaboration between regulatory bodies underscores an apolitical approach to shaping crypto policies.
The South African crypto landscape is preparing for profound changes, as the upcoming election is not expected to affect the nation’s positive perception of digital assets. Despite political shifts on the horizon, the Financial Sector Conduct Authority (FSCA) is forging ahead with its licensing regime for crypto firms, positioning South Africa as a leader in African crypto regulation.
According to the new licensing terms, the FSCA is supposed to hand out 60 licenses to crypto firms soon, including Luno, Zignaly, and VALR. This regulation, initiated in 2022, follows the global trends that seek to recognize the role of blockchain in modern finance.
Maurice Crespi, a partner at South Africa-based law firm Schindlers Attorneys, lauds this forward-thinking approach, emphasizing its alignment with global standards. He remarks that the regulation signifies t…
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