According to Bloomberg, South Africa has mandated that all crypto exchanges operating within its borders must secure licenses by the end of the year. The Financial Sector Conduct Authority (FSCA), the country’s financial regulator, has already received approximately 20 applications since the licensing process was initiated a few weeks ago.
FSCA Commissioner Unathi Kamlana has warned that the regulator will take enforcement action against firms that continue to operate without a license beyond the November 30 deadline. This could result in these firms being shut down or fined. Kamlana explained that the regulatory framework was introduced due to the potential harm that …
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