South Africa’s FSCA licensed 248 crypto firms in 2024
Pan-African exchange, Yellow Card, also secured an FSCA-issued financial service provider license late in the year
South Africa
South African taxman goes after crypto traders to rein in taxes
The tax agency is scrutinizing individual trading and tax data to find defaulters and issue them assessments. To crack down on non-compliance, SARS is also leveraging artificial intelligence (AI) technology.
97% of African countries struggle with crypto compliance: FATF
FATF’s latest review also reveals that 75% of jurisdictions globally fall short of crypto compliance.
From rigid rules to flexible principles: South Africa’s approach to financial innovation
South Africa’s financial conduct regulator aims to foster innovation while protecting consumers, as crypto licensing efforts continue.
South Africa grants 63 new crypto licenses
This brings the total approved crypto licenses in South Africa to 138. On- and off-ramp crypto service Kotani Pay is one of the newest licensees.
Scoop: South Africa announces 30 investigations into crypto activities
FSCA has formed a special team to probe unlicensed crypto services amid ongoing regulatory efforts. 30 cases are under scrutiny as South Africa seeks to balance innovation and compliance.
USDT issuer Tether partners NODO for stablecoin education in Africa
The partnership comes amid an intensifying battle for stablecoin market share in Africa. Last year, stablecoin volume exceeded $30 billion.