South Africa Greenlights 63 Crypto Asset Service Providers, Total Reaches 138

IconCryptoNewsTerminal Staff04 Jul, 2024

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South Africa Greenlights 63 Crypto Asset Service Providers, Total Reaches 138

The Financial Sector Conduct Authority (FSCA) of South Africa has granted licenses to 63 crypto asset service providers (CASPs), bringing the total number of regulated entities in the country to 138. The FSCA received a total of 383 applications, out of which 63 met the necessary requirements. The approved CASPs can now offer various crypto-related services, including trading, custody, and advisory. This move by the FSCA is seen as a positive step towards regulating the crypto industry in South Africa. It provides clarity for businesses and investors and helps protect consumers from potential risks. The FSCA is committed to working with the crypto industry to develop a sound regulatory framework that fosters innovation and protects investors.

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