A South African regulatory body is set to grant licenses to 60 cryptocurrency platforms by the end of March.

The Financial Sector Conduct Authority (FSCA) is currently sifting through over 300 applications it received towards the end of the previous year.

This move is part of South African regulators' efforts to monitor and regulate the activities of entities dealing in cryptocurrencies within the financial sector.

The initiative aims to incorporate cryptocurrency operations into the mainstream financial regulatory framework, ensuring a safer and more transparent digital currency environment.