Promoted | Week-long looting decimated the R/$ rate and caused Citibank to cut exposure to foreign exchange completely. But buying cryptocurrency offers investors a solution to the weakened currency.
The South African Revenue Service has made it more difficult for taxpayers to get approval on crypto arbitrage trades using their R10-million/year foreign investment allowance.
Promoted | South African cryptocurrency exchanges like Ovex are able to offer risk-free arbitrage returns to clients due to consistent price differences between local and foreign markets.
Promoted | The booming crypto money market, driven by the DeFi “summer of 2020”, means decentralised exchanges can now offer high-interest-earning deposit accounts of up to 20% annualised return.
The Financial Sector Conduct Authority has closed its investigation into Ovex, conceding in a statement issued on Friday that the company does not require a financial services licence currently.
The Financial Sector Conduct Authority issued and withdrew a warning on South African cryptocurrency arbitrage company Ovex – all in the space of hours on Thursday.
A Financial Sector Conduct Authority health warning on cryptos comes amid a flood of complaints from investors who lost money or were scammed, says head of enforcement at the regulatory body, Brandon Topham.
It’s been a long time coming, but it looks like the sheriff has finally arrived to the Wild West that is the crypto market in South Africa.
In this episode of the podcast, Jonathan Ovadia, co-founder and CEO of Ovex, a relatively new cryptocurrency exchange based in Cape Town, joins TechCentral’s Duncan McLeod for a discussion on the crypto market.