Crypto exchange iCE3 said it had been “advised to initiate liquidation proceedings” after suspending all trading on the exchange in March following the discovery of account discrepancies.
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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 certainly not at the same scale as a Tesla or a MicroStrategy, but some privately held South African firms have started converting a portion of their cash holdings into cryptocurrencies like bitcoin.
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.
VALR.com has raised R57-million to help fund further expansion, with proceeds from the capital raise to be used to explore new products for the South African market.
JPMorgan has declined to comment on suggestions that it pressured First National Bank, through parent FirstRand, to shut the bank accounts of South African cryptocurrency exchanges.
JPMorgan pressured First National Bank to close the accounts of cryptocurrency exchanges in South Africa, according to two separate sources. FNB has strongly denied that external pressure forced its hand.
First National Bank provided more insight on Wednesday into why it has given notice to cryptocurrency trading platforms in South Africa that it will shut their bank accounts.
VALR.com co-founder and CEO Farzam Ehsani returns to the show for a wide-ranging discussion on bitcoin and cryptocurrencies.
Join TechCentral for a live YouTube discussion with VALR.com co-founder Farzam Ehsani on Tuesday, 4 June, at 11am – and pose any questions you may have for him.