According to Foresight News, South African news media My Broadband reported that the South African regulatory authority, the Financial Sector Conduct Authority (FSCA), has received 128 license applications from crypto asset service providers as of November 30, 2023 (the application deadline). The FSCA plans to review the statements of 36 licensees at the Licensing Enforcement Committee meeting on December 12. An additional 22 applications will be submitted on February 13, and the final 14 applications must wait until March 12.
The FSCA stated that its evaluation methods include a comprehensive assessment of 'Know Your Customer', data protection, cyber risk management, conflict of interest management, complaint handling, and credit transaction counterparty risk management.
