News with the tag "FSCA"

The nation’s tax-collecting authority noted that South African citizens are not declaring digital assets and trades when filing returns.

South Africa emerges as a leading digital asset hub, driving growth in crypto with proactive regulations and expanding platforms like VALR.

South Africa’s financial regulator, the FSCA, has approved 59 license applications from cryptocurrency facilities seeking to serve local residents. According to reports, the FSCA received 493 license applications, but only 199 were complete, leaving 262 pending. Citing the heavy flow in the market, ...

South Africa’s Financial Sector Conduct Authority (FSCA) will decide on the fate of 50 crypto businesses’ licensing applications in the coming weeks. Gerhard van Deventer, the FSCA’s head of enforcement, stated in a podcast that 20 of the more than 100 firms that initially requested for a license ha...

TL ; DR South Africa’s Financial Sector Conduct Authority (FSCA) is gearing up to grant licenses to approximately 50 crypto asset service providers (CASPs) in the upcoming weeks. This development positions South Africa as the first country on the African continent to mandate licenses for digital ass...

The Financial Sector Conduct Authority (FSCA) of South Africa is making significant strides in regulating the burgeoning cryptocurrency market. As of November 30, 2023, the FSCA has received 128 applications from crypto asset service providers (CASPs), signaling a growing interest in the sector. The...

Only five percent of surveyed South African crypto-asset financial service providers (FSPs) are generating revenue between $8 million and $10 million. The Financial Sector Conduct Authority study found that many of the crypto asset FSPs “earn their revenue from trading fees.” Only 10% of FSPs Derive...