TL;DR, South Africa’s Financial Sector Conduct Authority (FSCA) has approved 248 Crypto Asset Service Provider (CASP) licenses as of December 2024, up from just 59 in March 2024. This has turned South Africa into one of the continent’s most tightly regulated crypto markets, with the South African crypto license now a key gatekeeper…
TL;DR, South Africa’s FSCA warned against MMM Krypto, an unlicensed crypto scheme promising 24-36% monthly returns through aggressive social media campaigns. The scheme follows the blueprint of MMM Global, which defrauded millions across Nigeria, Zimbabwe, and Russia, causing billions in losses. Using USDT transfers and a “mutual aid” facade, the platform requires participants…
When South Africa’s Financial Sector Conduct Authority (FSCA) officially called crypto assets “financial products” under the Financial Advisory and Intermediary Services (FAIS) Act, it was the first time in Africa that digital assets were accepted. The FSCA crypto license framework has now processed more than 400 applications since the application window closed on November 30,…
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