One of the key reasons for introducing the Casp licensing regime was to eliminate scams such as Mirror Trading International (MTI), which lured bitcoin holders with bogus promises of earning 10% returns a month.
Another reason is to remove South Africa from the Financial Action Task Force grey list.
The FSCA's issue of new licences comes as bitcoin crashed through the key $100,000 barrier, to trade at $104,000 (R1.86 million) on Monday.
The FSCA started the Casp licensing process in June last year and, by April this year, had issued 75 licences. That figure has now more than trebled, suggesting growing recognition of crypto's role in the future of finance.
The FSCA has received 420 Casp licence applications, of which 248 have been approved and nine declined.
New crypto exchange One of the new licensees is Afridax founded by Frank Leonette.
Esta historia es de la edición December 18, 2024 de The Citizen.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición December 18, 2024 de The Citizen.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Kwena a huge talent
WALTER: MUST ALLOW YOUNG FAST BOWLER SPACE TO THRIVE AND GROW
Bulls shake up their loose trio
The Bulls are hoping to use the learnings they picked up in two Champions Cup defeats over the past two weekends, to help them get a win over a Springbok-laden Sharks in their United Rugby Championship (URC) clash at Kings Park in Durban this evening (kick-off 6pm).
Sacha ready to put in a big shift
URC: FOCUSED ON HELPING WITH A STORMERS REVIVAL
Aussie feel to two French Top 14 clubs
La Rochelle host Clermont in the French Top 14 today with an Australian feel to both clubs' hefty second rows.
Lions place strong focus on tightening up their defence
The Lions will be looking to shore up their leaky defence when they take on the Stormers in their United Rugby Championship (URC) match-up at the Cape Town Stadium today (kick-off 3.45pm).
Sharks must get bite back
The Sharks are aiming to bounce back in their United Rugby Championship (URC) encounter against the Bulls at Kings Park in Durban today (kick-off 6pm), after a disruptive week.
India hold the whip hand in world cricket
Pakistan's loss of several Champions Trophy matches underlines India's dominance of cricket - and that \"stranglehold\" could tighten with an Indian now heading the global governing body.
Fourie to call the shots
STORMERS: VETERAN NAMED SKIPPER AS KEY STARS RETURN TO FACE LIONS
Konstas drawn into Aussie mix
CHANCE: TEENAGE OPENER IN SIZZLING DOMESTIC FORM
Retiring Ashwin is one of the 'all-time greats'
Spinner Ravichandran Ashwin (below) will go down as one of India's greatest players after retiring from international cricket this week aged 38.
