Crypto Exchange Luno Receives License From South Africa’s Financial Regulator
Luno, a cryptocurrency exchange, becomes the first firm in South Africa to receive a Financial Services Provider license from the FSCA due to the declaration of crypto assets as financial products in 2002. Christo de Wit, Luno's South Africa manager, emphasized the importance of compliance and security for customers. FSCA approved licenses for 59 cryptocurrency exchanges out of over 300 applicants, as the regulatory body aims to protect consumers from risks and financial crimes related to crypto assets. The FSCA's framework addresses the need to regulate crypto assets in response to increased consumer interest and instances of abuse and fraud in the market
