FSCA Reveals Future of 50 Crypto License Applications: Determination on the Horizon! South Africa's FSCA, the watchful eye on the financial sector, has hinted that a verdict on 50 exciting crypto license applications is just around the corner! The coming weeks are set to bring clarity for the hopefuls.
Numbers Game: Out of the 105 applications in the running, some 20 have gracefully stepped back. Perhaps, the cost of obtaining the
coveted FSP license didn't quite align with their calculations. It's a tricky game, after all!
The Key Challenge: The requirement for a skilled
crypto-savvy key individual has become a hurdle for many applicants. Finding someone with the right credentials, given the relative newness of the industry, isn't a walk in the park.
Why Change?: When it comes to adjusting regulations, the motivation is clear – the FSCA aims to crack down on those looking to scam their way through unregulated waters. No more evading the watchdog's watchful gaze!
In this rapidly evolving crypto landscape, the South African FSCA is keeping the industry on its toes. Will the weeks ahead be a moment of triumph or a chance to reevaluate strategies for these crypto visionaries? Stay tuned to find out!
