The election results are not expected to have a significant impact on South Africa’s growing crypto industry. The Financial Sector Conduct Authority, the country’s top regulator, recently established a licensing regime for crypto, making South Africa one of the first African nations to do so. Digital asset firms in the country have started to obtain licenses, with companies like Luno, Zignaly, and VALR being among the first to receive one in April. In 2022, South Africa amended its Financial Advisory and Intermediary Services Act to include crypto providers, allowing for the regulation of digital assets as financial products.
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