Exciting Development for Crypto Traders in South Africa ๐
Crypto exchange VALR based in Johannesburg, South Africa, has recently achieved a significant milestone. The Financial Sector Conduct Authority (FSCA) of South Africa has awarded VALR both a Category I and Category II license as a Crypto Asset Service Provider (CASP), placing it among the first in the country to obtain regulatory approval in both categories.
Regulatory Approval for VALR ๐
- VALR recognized as a Crypto Asset Service Provider
- Category I and Category II license awarded by the FSCA
- Compliance with South African regulations
The FSCA introduced CASP license applications in June 2023, providing a six-month window for crypto asset providers to apply and adhere to regulatory standards. This proactive move by the South African authority includes exchanges, wallet providers, custodians, and other service providers operating in the crypto space.
CEO of VALR Commends Regulators ๐
- Farzam Ehsani, the Co-Founder and CEO of VALR, praises the regulators for their essential role in the licensing process.
โSecuring the CASP license from the FSCA is a significant milestone for VALR. We have collaborated closely with South African regulators for several years, and this regulatory framework allows innovation to thrive while protecting the interests of the public.โ
Ehsani emphasizes the companyโs commitment to compliance, security, and providing a reliable platform for the crypto community. This regulatory achievement is a positive step for South Africa and demonstrates the regulatorsโ dedication to fostering a secure environment for digital asset trading.
VALR: Leading Crypto Exchange in South Africa ๐
- Established in 2018, VALR is now the largest crypto asset exchange in South Africa and the entire African continent based on trading volume.
- Wide clientele including over 1,000 corporate and institutional clients
- Serving more than half a million traders globally
- Offering diverse crypto trading services
- Advanced APIs catering to algorithmic and high-frequency traders
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