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The Financial Sector Conduct Authority (FSCA) has granted approval to 75 institutions to be licensed as crypto asset service providers.

The full list, including the likes of Peresec, Unum Capital and Luno, authorises a range of well-known and lesser-known entities to provide crypto services across three main authorised activities: advice, intermediary services, and investment management.

There are various categories of licence with some entities allowed to conduct all three activities, while some are restricted to just two or even one authorised activity.

In October 2022, the FSCA and Prudential Authority (PA), SA's two chief financial services regulators, designated crypto assets as financial products in terms of the Financial Advisory and Intermediary Services Act.

While that took effect immediately, crypto service providers were granted exemption by regulators as long as they applied for a licence between 1 June 2023 and end-November 2023.

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