South Africa will shortly be introducing a licensing regime and enhanced AML/CFT regulation for Virtual Asset Services Providers (VASPs).

We can assist you with all your preparations

  • Ensuring that you have an appropriate RMCP in place that addresses all the necessary legislation in place and the new proposals from the FATF.
  • Ensuring you have a robust EDD process in place to to check prospective clients against all required checklists.
  • Ensuring that progress made by the FSCA in respect of Crypto licensing is conveyed to you timeously and that you are prepared when crypto-licensing begins.

Tightening AML/CFT regulation and enforcement to DeFi and Cryptocurrency Industry is an inevitable general trend.  The sooner the Virtual Asset Service Providers adopt measures to comply with the expected inaugural AML/CFT regulations, the better and more well-prepared they will be for the compliance procedures and controls.

It is not a matter of whether it would happen, but when it would happen.  VASPs would want to keep running and growing your business smoothly, the day the regulations finally come live.

Download Crypto Asset Registration Update here