• Contact Us
  • About Us
Tuesday, June 3, 2025
  • Login
MetroBusinessNews
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate
No Result
View All Result
MetroBusinessNews
No Result
View All Result
ADVERTISEMENT
Home Technology

59 Crypto Firms Obtain Licences In South Africa

metro by metro
March 15, 2024
in Technology
0
59 Crypto Firms Obtain Licences In South Africa
0
SHARES
0
VIEWS

 

 

Read Also

Leading brands showcase SAP-fuelled AI, cloud innovation at Sapphire 2025

Africa’s AI skills landscape revealed in new SAP report

Cybersecurity Critical to Protect Future of Telehealth 

On Tuesday, South Africa’s Financial Sector Conduct Authority gave the nod to 59 cryptocurrency companies to operate.

The financial institutions market conduct regulator received 355 applications, approved 59, and is still considering 262 others, according to Techpoint Digest.

These licenced companies deal with several aspects of cryptocurrency, including payments processing, exchange management, advisory services, and converting fiat to cryptocurrency.

The FSCA is on the trail of anyone operating cryptocurrency operations without a licence. Felicity Mabaso, one of its big shots, made it clear there’ll be consequences.

In November 2018, the major players — South African Reserve Bank (SARB), FSCA, South African Revenue Services (SARS), and Financial Intelligence Centre (FIC) — established the Crypto Assets Regulatory Working Group.

In July 2021, it released a position paper with some solid recommendations on how to handle cryptocurrency.

ALSO READ:Jubilation As Supreme Court Dismisses Order Barring SDP’s Ajaka From Inspecting Election Materials In Kogi

Then, in August 2022, the SARB issued guidelines for banks dealing with cryptocurrency clients, essentially telling them not to slam the door in their faces.

And, just last October, the FSCA officially classified crypto assets as financial products, putting them under its watchful eye. It began issuing licences in June 2023, and here we are now, 59 firms getting the thumbs up!

 

Previous Post

Jubilation As Supreme Court Dismisses Order Barring SDP’s Ajaka From Inspecting Election Materials In Kogi

Next Post

SSANU, NASU Begin Nationwide Strike Tomorrow

Related Posts

English News Releases

Leading brands showcase SAP-fuelled AI, cloud innovation at Sapphire 2025

May 28, 2025
English News Releases

Africa’s AI skills landscape revealed in new SAP report

May 15, 2025
English News Releases

Cybersecurity Critical to Protect Future of Telehealth 

May 14, 2025
Nigeria Records At Least 119,000 Data Breaches In Q1, 2025-Report
Technology

Nigeria Records At Least 119,000 Data Breaches In Q1, 2025-Report

May 10, 2025
Next Post
SSANU, NASU Begin Nationwide Strike Tomorrow

SSANU, NASU Begin Nationwide Strike Tomorrow

Oil Prices Down On Swelling US Crude Stocks, Easing Middle East Tensions

Oil Inches Up On Supply Concerns, Weaker Dollar

June 3, 2025
Nigerian Military Fighter Jet Mistakenly Kills 20 Vigilantes In Zamfara

Nigerian Military Fighter Jet Mistakenly Kills 20 Vigilantes In Zamfara

June 2, 2025
President Tinubu Addresses Joint Sitting Of NASS Wednesday, May 29, 2024.

FG Declares June 6,9 Public Holidays To Mark Eid-UI-Adha Celebrations

June 2, 2025
MetroBusinessNews

© 2022 Metro Business News

Navigate Site

  • Contact Us
  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Economy
  • Politics
  • News
  • Companies and Markets
  • Energy
  • Sports
  • Real Estate

© 2022 Metro Business News

Go to mobile version