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Binance, which by volume is the world’s largest cryptocurrency exchange, will no longer derivative trading services in South Africa following a meeting with the country’s financial sector watchdog.
Following productive consultations with the Financial Sector Conduct Authority (FSCA), the Binance Group has announced it will no longer be offering its clients in South Africa access to some of its platform’s services and products.
Binance has announced that it is terminating some services in South Africa to comply with regulations. This move followed a warning issued by the South African financial regulator that Binance Group was not authorized to give any financial advice or render any intermediary services in the country.
The Financial Sector Conduct Authority (FSCA) of South Africa issued a press release saying that Binance Group is not authorized to operate in the country.
Standard Chartered, a British bank, has stated that it will use its Zodia Custody business to provide crypto broker services in Ireland...