Standard Bank Branch in South Africa Will Not Invest in Crypto Business, Not Yet
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The Standard Bank branch in South Africa has not yet made a decision to invest in digital currencies or cooperate with crypto companies, with Lungisa Fuzile, the head of the bank, citing the need to analyze potential risks and consult with lawyers and regulators.
Fuzile said in an interview with Bloomberg:
“We are doing research and working with our regulators and other banks to better understand [digital currencies].”
The Financial Market Supervisory Authority of South Africa has also recently announced that all bitcoin exchanges in the region must obtain a license by 2023 in order to provide legal services to investors.
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