South Africa to Issue Licenses to 60 Cryptocurrency Platforms by March End
According to Foresight News, South Africa plans to issue licenses to around 60 cryptocurrency platforms by the end of March, making it one of the first countries on the African continent to require digital asset exchanges to obtain operating licenses. The country's Financial Sector Conduct Authority (FSCA) stated that over 300 crypto asset providers are seeking approval, and the regulator allowed exchanges to apply for licenses until November 30, or else face the risk of enforcement action. The FSCA will use existing financial services laws to regulate cryptocurrencies.
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