South Africa’s FSCA Confirms Licenses to 75 Crypto Service Providers

South Africa’s Financial Sector Conduct Authority (FSCA) confirmed Monday that it has, to date, granted crypto license to 75 institutions. The confirmation from the regulator follows several crypto businesses claiming to be the first and only entity to receive license. The jurisdiction issues crypto asset service providers (CASPs) licenses under the Financial Advisory and Intermediary Services (FAIS) Act. The country received over 374 applications from CASPs, and after two years of laying the groundwork, has licensed only 75. “The FSCA will continue to provide regular updates as these applications are processed and approved,” the release added.

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