South Africa Warns Investors Against FTX and Bybit

The FSCA, South Africa’s financial sector regulator, has issued a statement warning investors to be “prudent and cautious” when trading on cryptocurrency exchanges FTX and Bybit.

by FSCA February 1 in a statement on FTXderivatives that allow the trading of only price expectations without actually owning crypto assets. in “contracts for difference” (CFD) It was stated that he did not have the authority to buy and sell. CFD‘s, investors trade on the short-term price action of an asset they allow.

Also, FTX to the people of South Africa to trade between derivatives that you can offer online access said to have noticed FSCAFTX is required by law in South Africa giving any financial advice or authorized to provide any brokerage service He stressed that he didn’t have it.

FSCAa similar statement on the cryptocurrency derivatives exchange Bybit also published for Bybit necessary authorization procedures for FSCAWhen you want to apply to FTX by any return not done.

FSCA last year, its citizens were accused of not having the necessary permits to provide intermediary services at the local level. BinanceHe had warned against

South African Investors Warn Against Binance

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