VALR, a South African crypto exchange, has been awarded Category I as well as Category II licenses by the Financial Sector Conduct Authority (FSCA).
This approval is a regulatory milestone for the Johannesburg-based company, which is among one of the first cryptos to get such dual-category licenses under the new cryptocurrency regulatory framework of South Africa. Moreover, it is considered to be a decisive measure for cryptocurrency being made part of the main financial activities within the country.
The development was welcomed by Farzam Ehsani, co-founder and CEO of VALR. He remarked that the FSCA’s decision was a sign of the exchange’s dedication to compliance, safety, and creating an efficient platform for trading cryptocurrencies. Valr has a trading volume that places it as the largest crypto asset exchange in South Africa having over 1,000 corporate and institutional clients and more than half a million traders worldwide.
Details of the New VALR Licensing Framework
The lice
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