The Financial Sector Conduct Authority (FSCA) in South Africa has urged local investors to exercise ‘caution and vigilance’ when dealing with the cryptocurrency exchange Binance.<\/p>\n
According to the notice, the company is not authorised to provide financial advisory or intermediary services under local law.<\/p>\n
\n“The FSCA would like to warn that \u2026 investments related to cryptocurrencies are currently not regulated by the FSCA or any other body in South Africa,” the Authority stressed.<\/p>\n<\/blockquote>\n
Investors were urged to check whether a legal or natural person is registered with the FSCA to provide advisory or financial services.<\/p>\n
Earlier, the Monetary Authority of Singapore included the cryptocurrency exchange<\/a> in the Investor Alert List. The regulator noted that it does not supervise the company’s activities.<\/p>\n
In June, the UK Financial Conduct Authority banned Binance Markets Limited<\/a> from any regulated activity in the country without prior written approval.<\/p>\n
Cayman Islands<\/a> began a probe into the exchange’s operations, Thailand<\/a> andHong Kong<\/a> accused the company of activity without a license, Japan<\/a> issued another warning.<\/p>\n
Polish regulators<\/a> warned consumers about the risks of interacting with the platform, and Italy and Malta<\/a> \u2014 about Binance’s unregulated activity.<\/p>\n
At the end of July Malaysian Securities Commission<\/a> announced enforcement actions against the trading platform for “illegal operation of a digital asset exchange”.<\/p>\n
In August, the Dutch Central Bank stated that Binance lacked registration<\/a> to provide services in the country.<\/p>\n