Crypto Exchange Luno Receives License From South Africa’s Financial Regulator

cryptonews.com:

Cryptocurrency exchange Luno is one of the first firms to receive a license from the Financial Services Conduct Authority (FSCA) in South Africa, allowing the exchange to operate as a financial services provider in the country.

In an announcement, Luno said it has been awarded its financial services provider license following the FSCA’s declaration of crypto assets as a financial product in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS).

“As a homegrown trailblazer with more than ten years of experience in the crypto market, Luno is thrilled to be the first licensed crypto asset service provider in the country,’ said Christo de Wit, Luno’s country manager for South Africa, in a press release.

“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,” said Wit.

Luno is the first dedicated Crypto Asset Service Provider in South Africa to be awarded its Financial Services Provider licence