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Crypto assets to be declared “financial products” in South Africa
South Africa’s Financial Sector Conduct Authority (FSCA) has published a draft declaration of crypto assets as a financial product under the Financial Advisory and Intermediary Services Act (FAIS).
What this means, in simple terms, is that cryptocurrency exchanges, advisors, and brokers will have to become registered financial services providers (FSPs).
South Africa’s Financial Sector Conduct Authority (FSCA) has published a draft declaration of crypto assets as a financial product under the Financial Advisory and Intermediary Services Act (FAIS).
What this means, in simple terms, is that cryptocurrency exchanges, advisors, and brokers will have to become registered financial services providers (FSPs).
