By Nqobile Dludla
South Africa’s financial conduct regulator has approved 59 operating licences for crypto currency businesses, an official said on Wednesday, as Africa’s most industrialised economy makes inroads with regulating the asset class.
In 2022, the Financial Sector Conduct Authority (FSCA) declared crypto assets to be financial products and said they needed to be regulated in order to protect financial customers from risks and prevent money laundering and terrorism financing.
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