Crypto providers caught in licensing net
By Opinion | Published Aug 8, 2023
Around the world, governments are moving ahead to regulate crypto assets. The South African Reserve Bank (Sarb) at first merely warned the public about the volatility of the crypto asset market, but regulators have now defined crypto as a financial asset under the Financial Advisory and Intermediary Services (Fais) Act. The Financial Intelligence Centre Act (Fica) also applies. By Lerato Lamola-Oguntoye & Analisa Ndebele