FSCA - Financial Services Provider Search

[fismail]

FYI

if the next Crypto based scheme you want to take your 0.00000 to make it into 00.000 please check if the company has passed some checks and balances for SA FSCA organization.
it IS red tape but ultimately it is there to protect YOU as the consumer.
failure to do this verification , when things go belly up and you loose , no-one will really take the time to help you without charging you when you least can afford to pay.

Search Authorised and Applied FSPs

 

[NarrowBandFtw]

crypto makes borders irrelevant though, it is dead easy to invest with a foreign company, which of course will not be registered as a FSP in South Africa

that goes for the entirely legit ones so a check with the FSCA is unlikely to help you much, if at all

e.g. look at all the licenses held by BlockFi ... none of which are South African:

Licenses & Disclosure | BlockFi

BlockFi and its affiliated entities are licensed in the following jurisdictions. Lending licenses are held by BlockFi Lending LLC and money transmitter licenses are held by BlockFi Trading LLC.

blockfi.com

 

[Matata]

FYI

if the next Crypto based scheme you want to take your 0.00000 to make it into 00.000 please check if the company has passed some checks and balances for SA FSCA organization.
it IS red tape but ultimately it is there to protect YOU as the consumer.
failure to do this verification , when things go belly up and you loose , no-one will really take the time to help you without charging you when you least can afford to pay.

Search Authorised and Applied FSPs

Do you know Luno's FSP number? Tried googling it. Just want it for future reference in case someone asks me about it in the future.

 

[NarrowBandFtw]

Do you know Luno's FSP number? Tried googling it. Just want it for future reference in case someone asks me about it in the future.

the FSCA's draft crypto declaration only came out about a month ago:

https://www.fsca.co.za/News%20Documents/FSCA%20Press%20Release%20FSCA%20publishes%20a%20draft%20Declaration%20of%20crypto%20assets%20as%20a%20financial%20product%2020%20November%202020.pdf

Feedback / comments on the draft declaration is being collected until 28 January 2021, meaning Luno, VALR, AltCoinTrader and every other crypto exchange in ZA does not have an FSP number yet, because they are not required to have one ... yet

 

[Matata]

Thank you for the clarification. Noted.