Coin

<ul class="news-points"> 
 <li>South Africa’s financial regulator, FSCA, now requires crypto exchanges to obtain licenses by year-end.</li> 
 <li>FSCA has received 20 license applications so far, with more expected before the November 30 deadline.</li> 
 <li>FSCA aims to protect investors through financial education and collaboration with regulators.</li> 
</ul> 
South Africa’s financial regulator, the Financial Sector Conduct Authority (FSCA), announced that crypto exchanges in the country must obtain licenses to operate by the year-end, <a href="https://www.bloomberg.com/news/articles/2023-07-04/south-africa-to-require-crypto-exchanges-licensing-by-year-end" target="_blank" rel="nofollow">reports</a> Bloomberg. 
The financial regulator intends to take “enforcement action” against crypto exchanges operating without a license after the deadline, which may lead to closure or fines, according to the report. 
FSCA Commissioner Unathi Kamlana revealed in an interview that the Financial Sector Conduct Authority has received approximately 20 license applications in recent weeks, and more are anticipated prior to the November 30 deadline. 
In an interview, Kamlana said that there was potentially serious harm to financial customers when using crypto products, and therefore it made sense for them to introduce the regulatory framework. 
The commissioner noted that the effectiveness of…
The post <a rel="nofollow" href="https://coinedition.com/south-africa-sets-licensing-deadline-for-digital-asset-exchanges/">South Africa Sets Licensing Deadline for Digital Asset Exchanges</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

South Africa Sets Licensing Deadline for Digital Asset Exchanges

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