According to a report by South African business technology website on March 3, the Financial Sector Conduct Authority (FSCA) of South Africa will issue licenses to about 14 cryptocurrency platforms by the end of this month, making South Africa one of the first countries on the African continent to require digital asset exchanges to obtain operating licenses. The FSCA requires exchanges to apply for licenses by November 60, otherwise they will face the risk of law enforcement action. Currently, more than 11 crypto asset providers are seeking approval. The FSCA chose not to develop a separate framework for cryptocurrency operators, but to regulate related companies under the existing Financial Advisory and Intermediary Services Act.