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South Africa Grants Crypto Licences to Luno, VALR, and 73 Other Companies 🇿🇦

South Africa Grants Crypto Licences to Luno, VALR, and 73 Other Companies 🇿🇦

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#government
South Africa's financial conduct regulator has approved licenses for 75 crypto businesses, including major exchanges like Luno and VALR. This move signals a significant step in the country's acceptance of the crypto regulatory landscape.

In a breakthrough development, South Africa's Financial Sector Conduct Authority (FSCA) has granted operating licenses to 75 crypto businesses, including renowned exchanges like Luno and VALR. This marks a significant milestone in the country's embrace of cryptocurrency regulation, positioning it as a leading player in the continent's crypto ecosystem. 🚀


Key points:

- The FSCA has approved 16 additional licenses, totaling 75, out of 374 applications received, signifying a growing acceptance of crypto in South Africa.

- Major exchanges like Luno and VALR are among the beneficiaries, enabling them to provide a range of crypto-related services, including advisory and intermediary functions.

- This move is expected to enhance South Africa's standing as a crypto-forward nation, with ongoing supervision ensuring compliance and consequences for unauthorized activities.


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