The Financial Sector Conduct Authority (FSCA) is pleased to announce that certain We observed several media statements by the agency.
To be clear, the FSCA aims to confirm that it has granted CASP licenses to a total of 75 institutions to date.
A complete list of currently licensed CASPs can be accessed through the link on the FSCA's website: Approved List of Crypto Asset Service Providers.
The CASP licensing process began on June 1, 2023.
Existing institutions that provided financial services related to crypto assets had until November 30, 2023 to submit their license applications. FSCA continues to accept and consider applications from new and existing CASPs. To date, 374 license applications have been received.
FSCA will continue to provide regular updates as these applications are processed and approved. Cryptoassets are defined as digital representations of value that:
- Although not issued by a central bank, they can be traded, transferred, or stored electronically by natural and legal persons for payment, investment, and other forms of public benefit purposes.
- Apply encryption technology.and
- It uses distributed ledger technology.
The public should be aware that the FSCA's licensing authority is limited to the authorization and supervision of CASPs to the extent that they provide financial services related to cryptoassets as defined in the FAIS Act, namely advice, brokerage and investment management services. Please note that there are This authorization does not include recognizing cryptoassets as legal tender or “cryptocurrency.”
Therefore, the South African Reserve Bank does not currently recognize crypto assets as currency, and any media reports suggesting otherwise are false.
Also read: FSCA awards license to Luno, SA’s largest crypto asset service provider
Also read: FSCA grants VALR license to operate as crypto asset service provider
