🇿🇦 Crypto licence in South Africa

The regime

South Africa declared crypto assets a financial product under the FAIS Act in 2022 and began licensing crypto asset service providers in 2024 — the first comprehensive licensing regime on the continent, with hundreds of firms authorised from the first application window.

The FSCA licence covers advice and intermediary services in crypto assets; exchange-control questions (SARB) and a travel-rule directive (FIC) sit alongside it. South Africa is also the SVG-alternative many African-facing brokers actually need: a real licence, in a real register, verifiable by clients.

Requirements

• FSP licence from the FSCA with the crypto-asset product category under FAIS.
• Fit-and-proper requirements: qualifications, competence and honesty standards for key individuals and representatives.
• Operational ability and financial soundness per FAIS board notices.
• FIC registration: accountable-institution status with KYC, monitoring and travel-rule compliance.

Licensed firms

FSCA-licensed CASPs include:

• Luno — licensed CASP, South Africa's largest exchange
• VALR — licensed CASP, first cohort

Snapshot, not the register: verify current status against FSCA licensed FSP search before relying on it.

Who needs an FSCA crypto licence?

Anyone providing financial services (advice or intermediary services, which the FSCA reads broadly to include exchange and brokerage) in crypto assets to South African clients. Hundreds of licences were granted from the first window; unlicensed provision is an offence.

How do I verify a South African crypto firm?

Search the FSCA's licensed FSP register for the firm and confirm the crypto-asset product category is on its licence. The FSCA publishes warnings against unlicensed operators.