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Binance Tells South Africa Regulator It Doesn’t Have Jurisdiction Over Crypto
“South Africa’s Financial Sector Conduct Authority (FSCA) issued a public warning that Binance Group, the owner of the world’s largest cryptocurrency exchange, is ‘not authorized to give any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act.’ To which Binance quickly responded that it does not provide financial advice or intermediary services. It went on to point out something outlined in the FSCA’s own letter: the FSCA does not regulate cryptocurrencies or crypto exchanges.”