South Africa’s monetary regulator is about to award licenses to 60 crypto companies, Bloomberg reported on Wednesday.
The regulator obtained functions from 300 companies since its new framework commenced final yr.
“We’re processing these licensing functions and we’re doing so in a phased form of method given the numbers,” Monetary Sector Conduct Authority Commissioner (FSCA) Unathi Kamlana stated in an interview with Bloomberg.
Crypto corporations that needed to proceed working within the nation needed to apply for a license with the FSCA from June 1. In 2022 the nation stated it needed to deal with crypto as a monetary product.
CoinDesk reached out to the FSCA for a remark.