Express
Crypto Assets in South Africa Would Be Considered Financial Products Under Regulator Proposal
Summary: Cryptocurrency assets would be treated like financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act, under a draft declaration by a financial regulator. Financial Sector Conduct Authority (FSCA) wrote, “The Declaration would have the effect that any person furnishing advice or rendering intermediary services in relation to crypto assets must be authorised ...
Cryptocurrency assets would be treated like financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act, under a draft declaration by a financial regulator.
Financial Sector Conduct Authority (FSCA) wrote, “The Declaration would have the effect that any person furnishing advice or rendering intermediary services in relation to crypto assets must be authorised under the FAIS Act as a financial services provider, and must comply with the requirements of the FAIS Act,” It is seeking comment on the proposal.
By Amy Liu
Tags: assets,Crypto,Regulator,South Africa
Link: Crypto Assets in South Africa Would Be Considered Financial Products Under Regulator Proposal [Copy]
