South African regulator FIC tightens crypto asset transfer rules with latest directive
The Financial Intelligence Centre (FIC) of South Africa has issued an instruction regarding the transfer of cryptocurrency assets. This instruction follows the licensing of 75 cryptocurrency asset service providers (CASP) by the South African Financial Sector Conduct Authority. FIC aims to tighten regulation by requiring CASPs to implement more detailed and stricter requirements for digital transactions. The scope of this instruction applies to institutions that facilitate domestic or cross-border transfer of cryptocurrency assets. As intermediaries, CASPs must comply with the new "travel rule," which requires the exchange of specific transaction details.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
LAUNCHCOINUSDT now launched for futures trading and trading bots
Bullish, Gibraltar Partner on Crypto Derivatives Settlement Framework
Bullish, the cryptocurrency exchange backed by Peter Thiel, has partnered with the Government of Gibraltar and the Gibraltar Financial Services Commission to co-develop a regulatory framework for the clearing and settling crypto derivatives.
Arizona Governor Vetoes Pro-Crypto Bills, Signs Strict Bitcoin ATM Regulation
Arizona Governor Katie Hobbs has made a decisive move on the state’s approach to digital assets, vetoing multiple cryptocurrency-friendly bills while signing a strict regulatory measure for Bitcoin ATM operations into law.
Australia’s Crypto Sector Welcomes Pro-Crypto Appointment in Government Reshuffle
Australia’s digital asset industry is showing renewed optimism following the appointment of Andrew Charlton as Assistant Minister for the Digital Economy, Artificial Intelligence, and other emerging technologies. The announcement was made by Prime Minister Anthony Albanese during a press conference in Canberra on May 12, marking a significant shift in the government’s approach to emerging tech sectors.
Trending news
MoreCrypto prices
More
