FSCA Extends Regulatory Exam Exemption for Crypto FSPs Until June 2025

The FSCA has extended the temporary regulatory exam (RE) exemption for Financial Services Providers (FSPs) and key individuals operating in the crypto space until June next year.

Originally, FAIS Notice 25 of 2023 provided an 18-month exemption for crypto asset FSPs and their key individuals from the requirements in Part 4 of Chapter 3 of the Determination of Fit and Proper Requirements for Financial Services Providers (Board Notice 194 of 2017). This exemption began on 11 May 2023 and was set to end on 11 November 2024.

However, on Friday, the FSCA issued FAIS Notice 76 of 2024, officially extending this exemption until 30 June 2025.

For any assistance regarding the matters discussed above, please click HERE.