Nearly 10% of South Africans — 5.8-million people — own crypto assets, with Cape Town having emerged as the preferred base for entrepreneurs in the sector, data from the Financial Sector Conduct Authority (FSCA) shows.

“Retail customers use crypto assets for transacting and speculation/investment but were — until now — largely unprotected, often investing in products without understanding the risks and complexities of the instruments,” according to the FSCA...

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