The FSCA has extended until June next year the temporary exemption from the regulatory exams for FSPs and key individuals authorised for crypto assets.
FAIS Notice 25 of 2023 exempted a crypto asset FSP and its key individuals from Part 4 of Chapter 3 of the Determination of Fit and Proper Requirements for Financial Services Providers (Board Notice 194 of 2017) for a period of 18 months from the effective date of the Notice.
The effective date of Notice 25 was 11 May 2023, which means the 18 months ended today, 11 November 2024.
On Friday, the FSCA published FAIS Notice 76 of 2024, which extends the exemption to 30 June 2025.
The Authority did not provide a reason for the extension.
