A new FSCA report forecasts South Africa’s DeFi sector will grow to $180 million by 2028. Retail clients dominate the market, and while the sector presents opportunities, it also poses risks. Key drivers of growth include increased mainstream investor adoption and favorable regulations.
South Africa is leading in crypto adoption and regulation in Africa, with its DeFi sector projected to reach $180 million by 2028. A report by the Financial Sector Conduct Authority (FSCA) highlights the sector’s growth and the need for clear regulations amid emerging risks like price manipulation and security breaches.
The FSCA’s report emphasizes the rapid growth and potential of South Africa’s DeFi sector, underlining the importance of regulatory clarity to protect users. As the sector evolves, improved regulations and financial education will be crucial in mitigating identified risks and ensuring sustainable growth.
Original Source: crypto.news
