{"id":81233,"date":"2023-07-04T20:24:05","date_gmt":"2023-07-04T17:24:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=81233"},"modified":"2025-09-11T21:37:59","modified_gmt":"2025-09-11T18:37:59","slug":"south-africa-regulator-to-require-licenses-from-local-crypto-exchanges","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/south-africa-regulator-to-require-licenses-from-local-crypto-exchanges\/","title":{"rendered":"South Africa regulator to require licenses from local crypto exchanges"},"content":{"rendered":"<p>The Financial Sector Conduct Authority (FSCA) of South Africa will require local exchanges to obtain licences by the end of the year. This is reported by <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-04\/south-africa-to-require-crypto-exchanges-licensing-by-year-end\">Bloomberg<\/a>.<\/p>\n<p>The filing process began several weeks ago and will run until November 30. FSCA has already received around 20 applications from local cryptocurrency companies.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cThe use of cryptocurrency products can pose serious harm to participants in the financial market. Therefore there is merit in introducing a regulatory framework,\u201d said FSCA Commissioner Unathi Kamlana.<\/cite><\/p><\/blockquote>\n<p>If exchanges continue to operate without the required documents after the deadline, they could face fines or a suspension of operations.<\/p>\n<p>South Africa will become the first country on the continent to require digital-asset exchanges to obtain licences. According to Kamlana, time will tell how effective the measures are.<\/p>\n<p>Earlier ForkLog reported that the South Africa-based cryptocurrency exchange VALR <a href=\"https:\/\/forklog.com\/en\/news\/south-africas-valr-raises-50m-in-series-b-at-a-240m-valuation\">closed a $50 million financing round<\/a>.<\/p>\n<p>In August last year in South Africa <a href=\"https:\/\/forklog.com\/en\/news\/sms-based-bitcoin-transfer-service-launched-in-south-africa\">began operating<\/a> the SMS service Machankura. It enables Bitcoin transfers without internet access.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FSCA will require local exchanges to obtain licences by the end of the year.<\/p>\n","protected":false},"author":1,"featured_media":81234,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[36,1839],"class_list":["post-81233","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-regulation","tag-south-africa"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81233","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=81233"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81233\/revisions"}],"predecessor-version":[{"id":81235,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/81233\/revisions\/81235"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/81234"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=81233"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=81233"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=81233"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}