The Financial Sector Conduct Authority (FSCA) is requesting Crypto Asset FSPs to provide information on the crypto asset related activities that these FSPs are currently performing. The purpose of the Information Request is to assist the FSCA in obtaining a better understanding of related conduct risks.
It is important to note that it is mandatory for Crypto Asset FSPs to provide the information that has been requested. A failure to provide information by the specified time will result in a failure to comply with the conditions of s3(2) of FSCA FAIS Notice 90 of 2022. This notice stipulates that an exemption from the licensing requirements of s7(1) is only applicable if Crypto Asset FSPs also provide the Authority with any information the Authority requests that is in the possession of, or under the control of, the person, that is relevant to the financial services and/or similar activities rendered by such person.
Should a Crypto Asset FSP continue rendering financial services subsequent to the exemption no longer being applicable, such person will be in contravention of section 7(1) of the Act.
All Crypto Asset FSPs must complete Annexure A and submit same via email to the FSCA at Keith.Sabilika@fsca.co.za by 15 February 2023.
Click here to read FSCA Information Request 7 of 2022.