South Africa’s Monetary Authority Greenlights Banks to Serve Crypto Clients

The guide was released after some local banks previously decided to close accounts related to cryptocurrency exchanges, citing risk exposures. In the published document, the SARB said it is aware that some banks in the country have chosen to block customers with links to cryptocurrencies. He added that while a thorough risk assessment is needed, the “wholesale termination of customer relationships” poses a threat to financial integrity.

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