A recent report from Reuters states that the Financial Sector Conduct Authority (FSCA) in South Africa has granted 59 operating licenses to cryptocurrency businesses. This important progress is occurring as the most industrialized economy in Africa moves forward with regulation of the asset class. There is a growing interest in cryptocurrency in South Africa. During a financial sector conference, Felicity Mabaso, a senior manager at the FSCA, announced that the authority has received 355 applications for licenses, of which 59 have been approved as of Tuesday. There are 262 more applications being reviewed, showing an increasing interest in the digital asset sector in South Africa. Additionally, the report mentions that licensed service providers will undergo continued monitoring as a requirement for maintaining their license. Ensuring adherence to regulatory standards will enhance consumer protection, while the Financial Sector Conduct Authority of South Africa plans to investigate unauthorized providers of crypto financial services to ensure compliance. OKX has been granted a payments license in Singapore. OKX, a cryptocurrency exchange based in Seychelles, revealed on Wednesday that its subsidiary in Singapore has obtained initial approval for a payments license from the Monetary Authority of Singapore (MAS). This new advancement allows OKX to provide digital payment tokens and international money transfer services in Singapore, strengthening the city-state’s reputation as a major center for cryptocurrencies in Asia. With the approval secured, OKX plans to take advantage of the increasing interest in digital asset services in Singapore, viewing the country as a top market, as stated by OKX President Hong Fang. This decision comes at a time when the cryptocurrency market is booming, with Bitcoin hitting all-time highs and investors showing interest in US Bitcoin exchange-traded funds (ETFs).