VALR, Luno, and Zignaly obtain crypto licences in South Africa
- VALR, Luno, and Zignaly received regulatory approval from the South African Financial Services Conduct Authority.
- VALR received a Category I and II approval, Luno received a financial service provider approval, and Zignaly received a Category II- Discretionary Financial Service Provider approval.
- The FSCA announced that it would approve operating licenses for 59 crypto firms.
The regulatory approval received by VALR, Luno, and Zignaly is a significant development for the cryptocurrency industry in South Africa. It demonstrates the growing acceptance and recognition of cryptocurrencies by regulatory authorities. This approval will likely attract more institutional and cooperative clients to these platforms and contribute to the overall growth of the industry.
