On Thursdays, Luno, a cryptocurrency trading platform, received regulatory approval from South Africa’s Financial Sector Conduct Authority (FSCA), becoming one of the first legally recognized crypto businesses in the country. This approval falls under the Financial Advisory and Intermediary Services Act (FAIS) of 2002.
Christo de Wit, South Africa’s country manager at Luno, commented, “This development is advantageous for the cryptocurrency sector and South African residents. Our commitment to ensuring compliance, safety, and security for our customers has fueled our growth since inception. As we broaden our range of features and services for financial institutions, these values will remain our top priority.”
Currently, Luno PTY LTD has been added to the list of authorized companies by the regulatory body. Approximately 60 more companies are anticipated to receive approval in the near future.
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2024-04-11 14:44