South African regulator investigates 30 crypto entities
- The FSCA is investigating cases of individuals or entities offering crypto services without proper authorization.
- The FSCA has approved a total of 138 CASP licenses.
- The FSCA has established an investigation team to target unlicensed crypto businesses.
The crackdown on unlicensed crypto service providers is a necessary step to protect the public and address concerns raised by the Financial Action Task Force (FATF). South Africa's efforts to regulate the cryptocurrency industry and comply with international standards will contribute to the country's reputation and help remove it from the FATF greylist.
