The South African financial regulator, the Financial Sector Conduct Authority (FSCA), has issued 248 licenses to cryptocurrency service providers out of the 420 applications it received. Of the remaining applications, 56 are still under review and nine have been rejected. Concerns raised by the FSCA led 106 entities to withdraw their applications. The FSCA has allowed entities with rejected applications to reapply if they meet the criteria. The regulator also extended the exemption period for compliance with regulatory requirements until June 30, 2025, and warned that non-compliance could result in suspension or withdrawal of authorization.
- Content Editor ( news.bitcoin.com )
- 2024-12-15
South African Regulator Grants 248 Crypto Licenses, Rejects 9 Applications