Regulatory Alerts2023-05-11
FSCA Exemption of Persons Rendering Financial Services in Relation to Crypto Assets from Certain Requirements, 2023
The Financial Sector Conduct Authority published a final exemption under the FAIS Act that exempts crypto asset financial service providers from certain licensing and regulatory requirements. This exemption removes the prior waiver for section 23 of the Determination, requiring these providers and their key individuals to hold an FSCA-recognised qualification now updated to include crypto-specific credentials. Licensed entities must submit full licensing applications between June and November 2023, utilize amended application forms, and satisfy specific continuous professional development and experience assessment conditions for supervised representatives.
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