Camomile Shumba is a CoinDesk regulatory reporter based in the UK. She previously worked as an intern for Business Insider and Bloomberg News. She does not currently hold value in any digital currencies or projects.
South Africa's financial regulator intends to award licenses to 60 crypto firms by the end of the month, a Bloomberg report said.“We are processing those licensing applications and we’re doing so in a phased kind of manner given the numbers,” Financial Sector Conduct Authority Commissioner Unathi Kamlana said in an interview with Bloomberg.
Crypto companies that wanted to continue operating in the country had to apply for a license with the FSCA on June 1. In 2022 the country said it wanted to treat crypto The country has not yet opted to pave a new regime for crypto assets but instead plans to regulate the sector under the Financial Advisory and Intermediary Services Act. The FAIS act has measures to ensure companies maintain honesty and integrity and is intended to protect consumers. However, the country is exploring whether or not it
“As we license and supervise, we will discover that perhaps there are gaps that cannot be closed by the existing regulatory framework, the FAIS Act,” Kamlana said. “And we might need to build on that as we discover what those are.”in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Sibanye-Stillwater to cut 2,600 jobs in South AfricaNo 1 source of global mining news and opinion
Read more »
Norwegian Dawn: Mauritius says cruise ship can dock after cholera scareThe passengers developed gastroenteritis after visiting South Africa - not cholera, authorities say.
Read more »
Live blog: South Africa urges ICJ for new emergency measures against IsraelIsrael's war on besieged Palestinians of Gaza — now in its 152nd day — has killed at least 30,717 people, mostly children and women, and wounded 72,156 as mediators continue truce talks in Egypt.
Read more »
Marine Mystery: Why Are Great White Sharks Disappearing in South Africa?Science, Space and Technology News 2024
Read more »
International Court of Justice Rules South Africa's Genocide Case PlausibleThe International Court of Justice ruled that South Africa's genocide case against Israel is plausible and ordered Israel to uphold its obligations under the Genocide Convention. The court also ordered Israel to prevent violations of the convention in Gaza and provide basic services and humanitarian assistance to Gazans.
Read more »
South Africa's ruling party fields election candidates who have faced graft allegationsSouth Africa’s ruling African National Congress says that it has disqualified some of its senior officials from being candidates in this year’s election because of long-running corruption allegations, but others also facing accusations were cleared to...
Read more »