South Africa’s Financial Sector Conduct Authority has released new updates on the licence status for crypto asset service providers in the country.
The FSCA received 128 renewal applications as of November 2023, State of the licences: Only 36 of the 128 licence application assessments were complete; the regulatory body said it would present the completed applications on December 12, 2023.
The FSCA issues the licence to crypto organisations to help protect consumers by ensuring that crypto asset service providers are financially sound and have adequate cybersecurity measures in place.