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Author: Admin | 2025-04-28
Is an example of how African fintech companies are leveraging blockchain technology to provide financial solutions. However, South Africa stands out on the continent as a hub for crypto companies. Last April, the Financial Sector Conduct Authority approved more than 70 crypto asset service providers, including firms like Luno and VALR. Unfortunately, the registry refused to list key international crypto exchanges such as Coinbase or Binance, citing concerns about the region’s regulatory process.The move was part of South Africa’s FSCA decision to incorporate crypto exchanges within the scope of the existing Financial Advisory and Intermediary Services (FAIS) Act. This means that the FSCA will now evaluate crypto platforms based in South Africa on the criteria of transparency, ethical conduct, competency, and operational ability, aligning with the FAIS Act’s stringent ‘fit-and-proper’ requirements.Under the new regulatory framework, consumers engaging with crypto exchanges will have access to enhanced protections and avenues for previously unavailable recourse in the case of financial mishaps or scams.Cryptopolitan Academy: Are You Making These Web3 Resume Mistakes? - Find Out Here
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