Here's the Tweet by the CEO of VALR exchange that kicks off a Twitter thread on this development:

This is an historic moment for South Africa:

Today the Financial Sector Conduct Authority (FSCA) declared a crypto asset as a financial product under the FAIS Act.

This Declaration was published in the Government Gazette as well as the FSCA website.

https://twitter.com/farzamehsani/status/1582775023709741058 [Nitter]