South African Reserve Bank Supports Friendly Crypto Operations
According to the banking regulator, mitigating risk by disconnecting crypto-related consumers could represent a “threat” to financial integrity. The Reserve Bank of South Africa’s Prudential Authority advised its subsidiaries to guard against illegal activity, asking banks not to terminate all links with bitcoin.
It is implied that such an act may pose a high risk in the long term. Prudential Authority CEO Fundi Tshajibana signed the formal notification. Some South African banks have already severed ties with Crypto Asset Service Providers (CASPs), as stated in the letter, due to unclear laws or a high-risk component. Although …
Read the full article on CryptoCurrencyNews.com
Get the latest cryptocurrency news on bitcoin, ethereum, initial coin offerings, ICOs, ethereum and all other cryptocurrencies. Learn how to trade on cryptocurrency exchanges.