• Contact Us
  • About Us
Monday, August 4, 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

China Releases AI Action Plan Days After U.S. As Global Tech Race Heats Up

Own The Future: TECNO SPARK 40 SERIES Redefines Cool For Mid-Range Phones

Absa’s digital transformation journey with SAP

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

China Releases AI Action Plan Days After U.S. As Global Tech Race Heats Up
Technology

China Releases AI Action Plan Days After U.S. As Global Tech Race Heats Up

July 26, 2025
Own The Future: TECNO SPARK 40 SERIES Redefines Cool For Mid-Range Phones
Technology

Own The Future: TECNO SPARK 40 SERIES Redefines Cool For Mid-Range Phones

July 18, 2025
Business

Absa’s digital transformation journey with SAP

July 14, 2025
English News Releases

Concord Access Solutions launches Next-Gen innovation to access new heights

July 11, 2025
Next Post
SSANU, NASU Begin Nationwide Strike Tomorrow

SSANU, NASU Begin Nationwide Strike Tomorrow

Ogoniland oil spill

Oil Falls As OPEC+ Proceeds With September Output Increase 

August 4, 2025
WAEC Releases 2023 Results, Withholds 200,000 Over Exam Malpractice

WAEC Releases Results For 2025 WASSCE

August 4, 2025
Armed Men On Motorbikes Kidnap More Than 60 In Northwest Nigeria

Armed Men On Motorbikes Kidnap More Than 60 In Northwest Nigeria

August 4, 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