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.
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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.