VALR, a South African crypto exchange, has been awarded Category I as well as Category II licenses by the Financial Sector Conduct Authority (FSCA). This approval is a regulatory milestone for the Johannesburg-based company, which is among one of the first cryptos to get such dual-category licenses under the new cryptocurrency regulatory framework of South Africa. Moreover, it is considered to be a decisive measure for cryptocurrency being made part of the main financial activities within the country. The development was welcomed by Farzam Ehsani, co-founder and CEO of VALR.