The South African Financial Advisory and Financial Intermediary Services Act (FAIS), passed in 2002, has been modified to incorporate a description of cryptocurrency assets, according to a notice issued on October 19 by the nation’s monetary regulator, the Financial Sector Conduct Authority (FSCA). This judgment brings cryptocurrency assets under supervision in South Africa for the first time and has been anticipated for several months. South Africa Defines Crypto Asset According to the FSCA notification, a crypto asset is a digital version of value that may be technologically traded, exchanged, and maintained but unauthorized by a central bank and entered into The post South Africa Classifies Cryptocurrency As Financial Product appeared first on Cryptoknowmics-Crypto News and Media Platform.
