Crypto Licence Applications and Investigations

The FSCA had approved 310 of 533 crypto licence applications by 31 March 2026; 17 were declined and 124 withdrawn by applicants. It has opened 81 investigations into potentially unlicensed crypto businesses.

533 applications. “Still being considered” is the remainder after approvals, declines and withdrawals. Source: FSCA, 15 April 2026.

Licensing of crypto asset service providers under the FAIS Act began on 1 Jun 2023. As at 31 March 2026 the FSCA had received 533 applications: 310 approved, 17 declined and 124 voluntarily withdrawn after engagements with the FSCA, leaving 82 still being considered. Reasons for declines have included failing the fit and proper requirements on operational ability (business plans and models) and competency (knowledge and experience of crypto assets). The FSCA has initiated 81 investigations into potentially unlicensed CASP businesses, closing 30 without enforcement action, mainly because the parties had ceased trading or were dormant; 51 are still open. From April 2025 to March 2026 it carried out 30 supervisory inspections of CASPs and aims for 35 in 2026/27 (FSCA).

Matched by FSP number. Sources: FSCA list, April 2024, FSCA list, March 2026.

Sources: FSCA press release, 15 April 2026; FSCA list, March 2026; FSCA list, April 2024 (earlier snapshot).