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<ul><li>FSCA licenses 63 new crypto providers, bringing the total to 138, enhancing regulation in South Africa.</li><li>Reviewing 383 applications, FSCA rejected 5 and saw 80 withdrawals, emphasizing strict compliance.</li><li>FSCA’s strict stance ensures only compliant crypto entities operate, protecting consumers and market integrity.</li></ul>The Financial Sector Conduct Authority (FSCA) of South Africa has enhanced cryptocurrency regulation by licensing 63 new crypto asset service providers (CASPs). This development brings the total number of CASPs operating legally within the country to 138. The authority&#39;s commitment to establishing a secure and regulated cryptocurrency market is highlighted by this increase.On July 2, the FSCA <a href="https://www.fsca.co.za/News%20Documents/FSCA%20Press%20Release%20-%20FSCA%20update%20on%20approved%20Crypto%20Asset%20Service%20Providers%20%2002%20July%202024.pdf?ref&#61;mariblock.com" rel="noopener noreferrer nofollow">announced</a> it had reviewed 383 applications from various entities eager to operate within the crypto space. Out of these, the authority rejected five applications for failing to meet the stringent &#39;fit and proper&#39; criteria mandated by the local financial services laws. Additionally, 80 applicants voluntarily withdrew their submissions after detailed discussions with the FSCA, indicating a proactive engagement between the regulator and potential service providers.<a href="https://cryptotale.org/fsca-boosts-crypto-oversight-licenses-63-new-casps-in-south-africa-report/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

FSCA Boosts Crypto Oversight, Licenses 63 New CASPs in South Africa: Report

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