Luno, a crypto exchange, gained regulatory approval from Africa’s Financial regulator, the Financial Sector Conduct Authority (FSCA), on Thursday making it one of the first regulated crypto companies in the country, Under the Financial Advisory and Intermediary Services Act (FAIS), 2002.
Christo de Wit, Luno’s country manager for South Africa, said in a statement, “This is a positive step for both the cryptocurrency industry and South Africans. Compliance, safety and security for our customers have driven our growth since the beginning and will continue to be priorities as we expand our offering to introduce more features and products for financial institutions.”
Now, Luno PTY LTD is on the regulator’s list of approved companies. Around 60 firms are expected to get approval soon.
