The post South Africa’s Crypto Showdown: Exchanges Ordered to Register or Face the Enforcements appeared first on Coinpedia Fintech News
Crypto exchanges around the world are grappling with increasing regulatory pressure, and now it’s South Africa’s turn to make its move. The country’s financial regulator, the Financial Sector Conduct Authority (FSCA), has issued an order requiring crypto exchanges to register by the end of the year or face enforcement actions. With a deadline of November 30, crypto exchanges must apply for licences to continue operating in the country.
Enforcement Actions Loom
Companies that fail to submit licence applications by the deadline will face potential enforcement actions, including forced closures and fines for operating without a proper licence. The FSCA Commissioner, Unathi Kamlana, emphasized the importance of protecting financial customers from potential harm associated with crypto products. The regulatory framework aims to ensure accountability
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