South Africa’s Crypto Regulator Implements Stricter Rules for Asset Transfers Through New Directive

The Financial Intelligence Centre (FIC) has put forward a new directive concerning the transfer of crypto assets. This move comes in the wake of the licensing of 75 crypto asset service providers (CASPs) by the Financial Sector Conduct Authority in South Africa. The FIC is looking to enhance regulations by mandating CASPs to adopt more stringent and thorough requirements for digital transactions. The directive’s implementation is expected to bring about significant changes in the crypto asset landscape.

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