It’s been a long time coming, but it looks like the sheriff has finally arrived to the Wild West that is the crypto market.
Proposed regulations mean crypto exchanges and other intermediaries will have to be licensed by the Financial Sector Conduct Authority (FSCA). A draft declaration published on 20 November 2020 defines a crypto asset as a financial product under the Financial Advisory and Intermediary Services Act. What does this mean? For one thing, potential investors will have to be advised of the risks of investing in crypto assets like bitcoin. It also means proper risk assessments will have to be applied before onboarding new customers.
Moneyweb will be hosting a special webinar to discuss the implications of these proposed regulations on Thursday, November 26 2020 at 11am. Joining us to discuss this will be Brandon Topham of the FSCA, Farzam Ehsani, co-founder of crypto exchange VALR, and Sean Sanders of crypto investment platform Revix.
Divisional Executive Investigations & Enforcement at Financial Sector Conduct Authority (FSCA)
He is an accomplished business executive with considerable local and international experience in corporate governance, finance and commercial law. He has served as a member of the South African parliament, contributing to various committees. He brings a wealth of experience as a forensic accountant to lead the Investigations and Enforcement Division of the FSCA. Mr Topham is a qualified Chartered Accountant CA(SA) and an admitted attorney of the High Court. He holds Master of Law (LLM) and Bachelor of Law (LLB) degrees; a B Proc; Postgraduate Certificate in Advanced Taxation; B Compt Hons; and is a B Compt Certified Fraud Examiner.
CEO and Co-founder of VALR.com.
Farzam is the CEO and Co-Founder of VALR.com, a platform that bridges the gap between our traditional financial system and the new world of cryptocurrencies. He was previously the Blockchain Lead at Rand Merchant Bank and the FirstRand Group, and was the inaugural Chairperson of the South African Financial Blockchain Consortium. He previously worked at McKinsey & Company in Johannesburg, Deloitte Consulting in San Francisco, the Baha’i World Centre in Haifa, and the United Nations in Nairobi. He studied economics at the University of California – Berkeley.
CEO and Co-founder of Revix.
Sean is a CFA Charterholder and an expert in technology-focused investment management. He worked at Knife Capital, a growth equity focused venture capital firm, and as a portfolio manager and financial analyst for a specialty finance investment group. He was awarded summa cum laude for his honours research into the global ETF industry and offers a radical dynamism to bring about a new investment paradigm with Revix.