South African Financial Management Proposals to Deal with Crypto Assets Based on Financial Assets

On November 21, the South African Financial Sector Conduct Authority (FSCA) recently released a report on the adjustment of crypto assets based on financial instruments, according to CoinDesk. The FSCA is seeking comments on the request. The advantage of this clause is that anyone who provides speculation or brokerage services on cryptocurrency assets must be licensed as a financial service provider in accordance with the Financial Reporting Act and must comply with the provisions of the Financial Reporting Policy, including cryptocurrency assets. Stock exchanges and platforms, brokers and advisers.