South African financial regulator FSCA stated that cryptocurrency exchanges wishing to operate in the country will need to obtain a license by the end of the year.
According to Bloomberg’s report Financial Industry Conduct Authority (FSCA) head Unathi Kamlana In a recently published interview, wanting to operate or plans to continue its activities Cryptocurrency exchanges by the end of the year licence to the regulator sign up Said it would be needed.
President of the FSCA license requests since it started accepting from 20 more than stock market application received and the application deadline from 30 November before more reported that they expect participation.
Unathi Kamlana, deadline for application passing by later unlicensed its activities in a way continuing for various organizations closing And fines to give what you are planning stated. Cryptocurrency last year financial assets Explaining that it started to see the organizations its activities let me to protect investors various measures He also stressed that he will
President, crypto industry potential aspect major financial risks will be taken in this context while pointing out that it contains consumer protection measures of the people in raising awareness And of training He also stated that cryptocurrencies will be risks made the following statements about it:
This is one area where you can lose quite a bit of money, so you should think twice before exposing yourself to it.
South Africa last year July cryptocurrency exchanges in regulated to try that you are preparing explained that this process 12 to 18 months between it can last had stated.