VALR Receives Regulatory License as Crypto Asset Service Provider (CASP)

As reported in Coindesk and Cointelegraph, we’re proud to announce that VALR has been granted both a Category I and Category II license by the Financial Sector Conduct Authority (FSCA) of South Africa as a Crypto Asset Service Provider (CASP).

This milestone makes VALR one of the first crypto asset platforms to receive regulatory approval as a Financial Services Provider in both categories in South Africa.

Why is this a significant milestone?

The South African regulatory authority has established a regulatory framework for CASPs, which encompasses crypto asset exchanges, wallet providers, custodians and other providers offering financial services related to crypto assets.

By licensing and regulating these entities, the country aims to foster trust, protect investors and consumers, and promote sustainable growth within the crypto industry.

What does this mean for you, a valued customer of VALR? 

Your crypto assets remain securely held with VALR, and there is no action required from you following our licensing.

We have always operated as a compliant crypto exchange, and this commitment continues under the FAIS Act, regulated by the FSCA.

Insights from Farzam Ehsani, VALR’s CEO:

"Obtaining the CASP license from the FSCA is a monumental achievement for VALR. Over the past six years, we have actively collaborated with the South African regulators who have now pioneered a regulatory regime, allowing innovation to flourish while protecting the public interest. Our license underscores our unwavering dedication to compliance, security, and providing a trustworthy platform for the crypto community. We welcome this regulatory milestone for South Africa and applaud the regulators for taking this important step for the nation."

Risk Disclosure

Trading or investing in crypto assets is risky and may result in the loss of capital as the value may fluctuate. VALR (Pty) Ltd is a licensed financial services provider (FSP #53308).