FNB unilaterally closes accounts of all cryptocurrency trading platforms in SA

FNB unilaterally closes accounts of all cryptocurrency trading platforms in SA

FNB is shutting down the bank accounts of cryptocurrency trading platforms in South Africa. The bank identified risks associated with cryptocurrency platforms and the lack of appropriate regulations as reasons for its “prudent course of action”. The Money Show ‘s Bruce Whitfield interviewed Farzam Ehsani, cofounder and CEO at VALR.com, one of the exchanges affected by FNB’s decision.