South Africa's FSCA has not yet reinstated the license of the South African exchange Banxso, with a re-hearing tentatively scheduled for December 4.

Foresight News reports that the South African Financial Sector Conduct Authority (FSCA) announced that despite the Western Cape High Court having lifted the asset preservation order against the South African exchange Banxso (Pty) Ltd, Banxso's financial services provider (FSP) license remains revoked, and the company is not permitted to conduct financial services activities. Its funds can only be used to migrate clients to other financial services providers authorized by the FSCA. The related case for Banxso is tentatively scheduled for re-hearing on December 4, 2024, and the FSCA is conducting an investigation into Banxso and its management's activities.

Foresight News previously reported that the FSCA temporarily revoked the financial services provider license of the South African exchange Banxso in October, stating that once the investigation is completed, they will consider the results of the investigation and Banxso's response, and inform the public of the final decision.