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Crypto Assets And Intermediary Services

Office of the Ombud for Financial Services ProvidersRef: https://www.faisombud.co.za/latest-news/crypto-assets-and-intermediary-services/

Official source

Source domain: faisombud.co.za

Collected on 28 June 2026

Always confirm details on the official source before acting.

Our copy (archived 21 July 2026)Official source

What this means

The document discusses the FAIS Ombud's information page on Crypto Assets and Intermediary Services. It notes that crypto assets were declared financial products under FAIS in 2022, requiring providers to be authorised as FSPs or representatives, and that a 2026 joint communication clarifies intermediary activity involving crypto assets falls under FAIS. It emphasizes licensed FSCA registration for consumer protection and mentions the Ombud’s concern about complaints related to unlicensed entities and the need for consumer education.

Facts

Reference

https://www.faisombud.co.za/latest-news/crypto-assets-and-intermediary-services/

Key Takeaways

topic: Crypto Assets and Intermediary Services
regulatory bodies: FSCA, FAIS Ombud
legal framework: FAIS Act, declaration of crypto assets as financial products (Oct 19, 2022)
requirement: obtain FAIS authorisation as FSP or be a representative of an authorised FSP
security: FSCA licensing under Section 7(1) of FAIS Act
date: Oct 19, 2022 declaration; May 2026 joint FSCA-SRBA communication
consequence: consumers should interact with FSCA-registered entities
statistic: 42% of crypto asset complaints dismissed in previous financial year due to unlicensed entities

Dates

Closing Date

19 October 2022