South Africa Set to License 60 Crypto Platforms by Month-End (1)

South Africa will license about 60 cryptocurrency platforms by the end of the month, putting it among the first nations on the continent to require digital-asset exchanges to have permits to operate.

The Financial Sector Conduct Authority, which gave exchanges until Nov. 30 to apply for licenses or risk facing enforcement action, said more than 300 crypto-asset providers sought approvals.

“We are processing those licensing applications and we’re doing so in a phased kind of manner given the numbers,” FSCA Commissioner Unathi Kamlana said in an interview with Bloomberg.

The regulator opted not to develop a separate framework for crypto ...