The Financial Sector Conduct Authority (FSCA) of South Africa has introduced cryptocurrency license issuance, declaring important progress in the regulation of digital assets in the country.
This move aligns with the process of integrating cryptocurrency into regular financial activities to increase consumer protection and fight financial crimes such as money laundering and terrorism financing. Consequently, Luno, a crypto exchange, and Zignaly, a decentralized social investing marketplace, are among the first recipients of the said licenses.
Luno Bags First License
The FSCA gave Luno, a crypto asset service provider in South Africa, the first license to operate as a financial services provider. Introduced in 2013, Luno continues to be a very strong player in the cryptocurrency market, respecting regulation, safety, and security.
The license is granted under the Financial Advisory and Intermediary Services Act 2002, which regulates the provision of certain financial advisory and inter
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