FAnews November 2022 Edition

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The idiom stands" time flies. Another year has sped by, and while we are all looking forward to our yearly December break, planning for 2023 is firmly underway. 2022 was a busy year on all fronts. One of the most recent developments is the fact that the Financial Sector Conduct Authority (FSCA) confirmed that crypto assets will be considered a financial product under the Financial Advisory and Intermediary Services (FAIS) Act, effective from 19 October 2022, and regulated accordingly. There is a big need for financial education to bring South African consumers up-to-speed on crypto assets, because this is a whole different ball game and it's going to be interesting to see how it will be regulated...