Crypto assets now included under definition of financial products in South Africa
On 19 October 2022, the Financial Sector Conduct Authority, South Africa's financial institutions regulator, declared that crypto assets are now included under the definition of 'financial products' in terms of the Financial Advisory and Intermediary Services Act. The effect of the Declaration is that any person who provides advice or renders intermediary services in relation to crypto assets must be authorised under the FAIS Act as a financial services provider, and must comply with the requirements of the FAIS Act.