South Africa has newly issued 63 licenses for cryptocurrency service providers, bringing the total number approved to 138

ChainCatcher news, the Financial Sector Conduct Authority (FSCA) of South Africa has issued 63 licenses to Crypto Asset Service Providers (CASP). These approved licenses bring the total number of CASPs authorized to operate in South Africa to 138.

According to the FSCA report, 383 applications have been received from entities seeking to provide crypto-related services. Of these, 5 applications were rejected for not meeting the applicable "fit and proper" requirements as stipulated by local financial services law. Additionally, 80 applications were voluntarily withdrawn by the applicants after engaging with the financial services regulator.