The Financial Sector Conduct Authority has tasked all licensed crypto asset service providers (CASPs) with completing a questionnaire about their business activities and risk management practices.
The Authority issued Information Request 2 of 2025 on 6 October. The questionnaire must be completed online and submitted by 5 December 2025.
The Authority issued a similar Request for Information (RFI) in December 2022. The FSCA said the data collected via Information Request 7 of 2022 was instrumental in developing the Crypto Market Study, “which provided valuable insights into the structure, scale, and risks of the domestic crypto asset ecosystem”.
The FSCA said developments since the declaration of crypto assets as a financial product under the Financial Advisory and Intermediary Services Act in October 2022 highlight the increasing need for current and comprehensive information on crypto asset activities. “Such information is essential to support the FSCA’s mandate in advancing effective regulatory development, ensuring consumer protection, and enhancing and supporting the efficiency and integrity of financial markets and the financial system.”
The questionnaire must be completed online at this link.
The FSCA has provided a copy of the questionnaire. Its 89 questions delve into a CASP’s business model, customer demographics, financial metrics, risk management practices, compliance with the anti-money laundering and counter-financing of terrorism regulations (including the FATF’s Travel Rule via Directive 9), outsourcing arrangements, services related to stablecoins, consumer protection practices, and cross-border operations.
All CASPs must complete the RFI by providing the relevant information as of 30 June 2025. Failure to submit the completed questionnaire by 5 December will constitute an offence under section 267 of the Financial Sector Regulation Act.
Queries relating to the RFI should be sent to the FSCA’s Fintech Unit at fintech@fsca.co.za.
