Given the popularity of this asset class amongst South Africans and the numerous scams and implosions we have witnessed of late, regulation is long overdue.
Thankfully, the FSCA (Financial Services Conduct Authority) has made its intentions clear, with the window period for crypto service providers to apply to the FSCA ending on 1 December 2023. At this point, crypto service providers must be registered as CASPS (crypto asset service providers), which should be closely aligned to the requirements of an authorised FSP (financial service provider) to protect consumers while creating space for an emerging asset class.
This webinar recording provides an outline of the intended FSCA regulations through the lenses of one of the most regulated crypto services in South Africa (CURRENCY HUB) and their compliance officer, who supported numerous hedge funds in 2015 when the new asset class was regulated for the first time, and which is now considered a proxy for the CASP rollout. Also included is a former crypto sceptic who became a client and, more recently, a shareholder CFO of CURRENCY HUB.
Watch this video as Moneyweb’s Ciaran Ryan, CURRENCYHUB’s Andrew Ludwig and Warren Deats, and Johan van Zyl from Outsourced Compliance Services discuss this and more.
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More on the guests:
Andrew Ludwig
CEO of CURRENCY HUB
Ludwig specialises in crypto arbitrage and a career in marketing and managing alternative investments. He has deep knowledge of the regulations and compliance that apply to the FSCA and the marketing and management of financial services.
Warren Deats
CIO of Geddes Capital and recently CFO of CURRENCY HUB
Deats has been a longstanding service provider to CURRENCY HUB and a sceptic of cryptos. He became an arbitrage client and recently joined CURRENCY HUB to oversee their Risk Management and support the trading team.
Johan van Zyl
Managing director of Outsourced Compliance Services (OCS)
Van Zyl is an experienced FSCA-approved compliance officer, having worked closely with the regulator for over 10 years. Much of Van Zyl’s compliance and legal work supported asset managers and hedge funds with their transition into regulation since 2015.
Brought to you by CURRENCY HUB.
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