PANews reported on December 15 that according to News.bitcoin, the South African financial regulator, the Financial Sector Conduct Authority (FSCA), has issued a total of 248 Crypto Asset Service Provider (CASP) licenses from 420 applications received. According to local reports, 56 applications are still under review, while 9 applications have been rejected and 106 entities withdrew their applications after the FSCA expressed concerns about their business models.