FSCA: Crypto platforms must be licensed in 2023

Cryptocurrency financial companies in South Africa will need to apply for a licence between June 1 and November 20, 2023, in order to operate legally, the country’s financial conduct regulator said on Thursday.

Read: Crypto assets to be treated as financial products in South Africa

A declaration on Wednesday that crypto assets are financial products does not mean that they are legal tender, Eugene Du Toit, the head of the Financial Sector Conduct Authority’s Regulatory Frameworks Department, said at a press conference.

*More details to follow.