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Farzam Ehsani

South African Financial Sector Regulator Declares Crypto Assets a Financial Product

South African Financial Sector Regulator Declares Crypto Assets a Financial ProductAccording to a general notice published in a government gazette, crypto assets are now treated as financial products under South Africa’s Financial Advisory and Intermediary Services (FAIS) Act. Declaration of the crypto assets as financial products means crypto asset service providers (CASP), such as exchanges, must apply for a license. Declaration Applicable to Any Digital […]

Gary Gensler is leaving the SEC, but replacement will face scrutiny

South African Banking Regulator: ‘De-risking’ Crypto Firms Potentially Creates ‘Opacity in Financial Conduct’

South African Banking Regulator: ‘De-risking’ Crypto Firms Potentially Creates ‘Opacity in Financial Conduct’According to the latest guidance note issued by the South African banking sector regulator, Prudential Authority, risk assessment does not mean financial institutions should avoid or eliminate risks via the wholesale termination of client relationships with entities such as crypto asset service providers. Instead, the regulator wants financial institutions to only consider “de-risking” when the […]

Gary Gensler is leaving the SEC, but replacement will face scrutiny

South African Crypto Exchange Valr Raises $50 Million in Series B Funding Round

South African Crypto Exchange Valr Raises  Million in Series B Funding RoundSouth African cryptocurrency exchange Valr announced recently that it has raised $50 million in a Series B round led by Pantera Capital. The capital raise means Valr is now valued at a reported $240 million. Funds Raised to Finance Valr’s Expansion Into Other Markets The South African cryptocurrency exchange, Valr, recently announced that it raised […]

Gary Gensler is leaving the SEC, but replacement will face scrutiny

Report: Tweaks to South African Tax Filing System to Result in Decreased Crypto Arbitrage

Report: Tweaks to South African Tax Filing System to Result in Decreased Crypto ArbitrageReports from South Africa suggest that tax authorities have plugged a loophole on the online tax filing system that enabled crypto arbitrage traders to make several purchases on overseas cryptocurrency platforms using just one approval. As a consequence of these tweaks, crypto arbitrage traders are now forced to make a new application each they need […]

Gary Gensler is leaving the SEC, but replacement will face scrutiny