In his article 'FSPs Under Close Regulatory Scrutiny,' Gareth Stokes from FANews explains that crypto assets are slowly becoming a permanent fixture in the financial landscape. As we step into 2024, over 5.8 million South Africans are already in crypto, and experts predict this number will skyrocket to 26.4 million by 2030. With Bitcoin soaring back to the USD 40,000 mark, the crypto market rose with renewed interest.
Unsurprisingly, the Financial Sector Conduct Authority (FSCA) is taking notice, fast-tracking the regulation of crypto assets and financial service providers (FSPs). Notably, Cape Town leads the charge as the crypto hub, hosting 46% of FSP headquarters, followed by Johannesburg at 33% and Pretoria at 7%. Around 10% of businesses have offshore headquarters, emphasizing the local significance to regulators.
As we look ahead, it's clear that more crypto-focused regulations are on the horizon, covering licensing, framework, and supervision. In this dynamic environment, EasyCrypto stands out as a pioneer in navigating these regulations. Their focus is on safeguarding users and ensuring a seamless investment experience in this dynamic space.
For those dipping their toes into crypto, EasyCrypto offers a practical solution – their crypto bundles. Picture this: a team of experts handling the nitty-gritty of portfolio rebalancing for you. It's like having a pro teammate, ensuring your investments stay on track!
Explore your options:
EasyCrypto 10 (EC10): This strategy mirrors South Africa’s top 10 cryptos by market cap, offering a passive approach to crypto investment.
EasyCrypto 10 equally weighted (ECE10): If you prefer a well-balanced mix, this bundle provides uniform weights for the top 10 cryptos.
EasyCrypto altcoin (ECA20): Going beyond Bitcoin? This bundle includes the top 20 equally weighted cryptocurrencies, excluding Bitcoin.
You can also look into individual cryptocurrencies to create your unique portfolio.
Whether you're interested in gaming, NFTs, or the Metaverse, you may want to check their ECNMG Bundle for first-time crypto investors. Track the top 5 performers in NFTs, Metaverse, and GameFi sectors, all while navigating the exciting world of digital assets.
For more insights on regulation, check out a recent FANews article here. For information on security and regulation, click here.
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