Of the 128 applications it has received, only 36 had met all the conditions and their licensing would be considered in a meeting on December 12, according to the Financial Services Conduct Authority.
South Africa will implement the Crypto-Asset Reporting Framework standard by the OECD, which calls for automatic exchange of tax-relevant information between members.
Mirror Trading allegedly scammed 30,000 BTC from over 23,000 American investors, which it misappropriated, and CFTC imposed restitution of over $1.7 billion.
The report also revealed that high-earning millennials are the most digital currency-savvy and that poorer countries like Namibia lead digital currency usage in Africa.
Standard Bank CEO Lungisa Fuzile says that the bank is approaching digital assets cautiously in fear of an implosion, but it will be quick to adapt to a change in the market.
The FSCA says 20 exchanges have submitted applications, including Digital Currency Group-owned Luno, with the new licensing requirement meant to protect investors.
The report says 67% of internet users want to own their data, and 4 in 5 want control over their online identity, with Nigeria, South Africa, and Brazil leading in awareness.
South African national Steynberg was charged with the offense of operating a multi-level marketing scheme, which stole over 29,421 BTC from thousands of investors.
A new report reveals that Africa was the region with the highest growth in blockchain funding, with KuCoin and Scroll.io hitting the unicorn valuation.
Roqqu, with 1.4 million users, will allow users to withdraw and deposit South African rand, tapping into one of Africa’s largest digital currency markets.
FATF says Africa’s two largest economies must do better to fight money laundering, with both countries decrying the listing as they’ve made “substantial efforts.”