Here's the Tweet by the CEO of VALR exchange that kicks off a Twitter thread on this development:

> This is an historic moment for South Africa:
> 
> Today the Financial Sector Conduct Authority (FSCA) declared a crypto asset as a financial product under the FAIS Act.
> 
> This Declaration was published in the Government Gazette as well as the FSCA website.

https://twitter.com/farzamehsani/status/1582775023709741058 [[Nitter](https://nitter.it/farzamehsani/status/1582775023709741058)] 

KenyaCoin

Here's an article on this development from Bloomberg:

Crypto Assets to Be Treated as Financial Products in South Africa

https://www.bloomberg.com/news/articles/2022-10-19/crypto-assets-will-be-treated-as-financial-products-in-south-africa-from-today

bitcoin

South Africa to treat #Bitcoin and crypto as financial products.

shyfire

Here's an article on this development from Bloomberg:

*Crypto Assets to Be Treated as Financial Products in South Africa*
https://www.bloomberg.com/news/articles/2022-10-19/crypto-assets-will-be-treated-as-financial-products-in-south-africa-from-today [[Archive](https://archive.ph/tdr4w)]