South Africa's financial watchdog issued a notice warning consumers to be "cautious and vigilant" when dealing with crypto exchanges FTX and Bybit.
- "It has come to the attention of the FSCA that FTX might be offering the South African public, access to its online platform to trade in amongst others, derivatives instruments," the FSCA said.
- "FTX is not authorised to give any financial advice or render any intermediary services in terms of the Financial Advisory and Intermediary Services Act, 2002 (FAIS Act) in South Africa," the regulator said.
- Sam Bankman-Fried, founder and CEO of FTX, tweeted that the company had reached out to to initiate a dialogue with the FSCA and was not aware of any prior attempted communication from the regulator.
- The FSCA also issued a notice to the same effect regarding crypto exchange Bybit.
- "Bybit has been in correspondence with the FSCA and will continue to engage in productive dialogues with the intent to resolve the issue to the satisfaction of all those involved," a Bybit spokesperson told CoinDesk.
UPDATE: (Feb. 2, 14:35 UTC): Adds comment from Bybit spokesperson.
UPDATE: (Feb. 2, 15:05 UTC): Adds bullets on Sam Bankman-Fried's tweeted response.
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