Why Modernizing Collective Investment Schemes Is Critical for Retail Investors
- The Financial Sector Conduct Authority has brought Crypto Asset Service Providers under the Financial Advisory and Intermediary Services Act.
- As of September 2025, the Johannesburg Stock Exchange will allow the listing of exchange-traded products referencing spot cryptocurrencies.
- Crypto assets are currently excluded from South Africa's Collective Investment Schemes framework, creating risks and tax inefficiencies for retail investors.
The current exclusion of cryptocurrencies from South Africa's CIS framework is a significant barrier to retail investment and financial innovation. It is crucial for regulators to adapt to the evolving landscape of digital assets to protect investors and enhance market integrity. A proactive approach to integrating crypto within regulated frameworks could position South Africa as a leader in the African financial sector.
