TL;DR, Seychelles raised $100 million for six projects in 2023, while South Africa raised $29 million, demonstrating how adequate blockchain funding is aided by regulatory certainty. Two nations with clear laws attracted the most investment in Africa, according to the CVVC study, while 12 countries banned cryptocurrency and 36 had unclear regulations. African blockchain entrepreneurs…
TL;DR, Kotani Pay successfully obtained a Crypto Asset Service Provider (CASP) license from South Africa’s FSCA, joining over 248 approved applications since June 2023 to legally offer on-ramp and off-ramp services to businesses and traders. South Africa’s CASP licensing framework offers regulatory clarity in a market where 12% of citizens interact with digital assets, providing…
TL;DR, The African National Congress under Ramaphosa forms historic coalition government while maintaining pro-crypto policies and pioneering regulatory frameworks in Africa. According to the Financial Sector Conduct Authority, South Africa’s crypto industry will continue to develop. Ramaphosa encourages youth participation in building local blockchain solutions. Cyril Ramaphosa bags his second term, securing a win for…
TL;DR, VALR Exchange secures dual crypto license from South Africa’s FSCA, obtaining both Category I and II approvals. With new FSCA approvals, VALR joins South Africa’s first wave of regulated exchanges, boosting trust and credibility for 5.8 million crypto users. VALR’s regulatory milestone allows advanced crypto services including discretionary strategies and product wrappers, though compliance…
TL;DR, Among the first batch to receive South Africa’s crypto license include Luno, South Africa’s top crypto exchange, and Zignaly, a decentralized social investing platform. Zignaly obtained a Category 2 discretionary FSP license listed on the FSCA registry under Merritt Administrators PTY LTD. Since June 2023, the FSCA has been accepting licensing applications, attracting over 230…
TL:DR, South Africa issued 75 crypto licences under FAIS Act: 71 Category I, 33 Category II, 3 Category IIA, with notable companies like Revix approved but Binance absent. Revix is among the CASPs that received their crypto licences under its incorporated name, RVX SA Capital (pty) Limited. We expect South Africa to be a hotbed of innovation…
TL;DR, Major retail giants like Pick-n-Pay and Takealot.com now accept digital assets, solidifying the status of the Cape Town crypto hub as a leader in real-world mainstream adoption. Cape Town attracts digital nomads due to its Mediterranean climate, affordable cost of living, and vibrant social scene, but this influx creates housing shortages and rising costs…
TL;DR, Out of 355 total applicants, only 59 companies have successfully met the requirements to secure FSCA crypto licenses in South Africa’s first regulatory wave. The South African regulatory journey, starting in 2018, has evolved into a comprehensive framework that legitimizes crypto assets to protect consumers and prevent financial crimes. This regulatory move covers a…
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…
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