FAnews November 2022 Edition

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...