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❕NEWS A South African bank has banned its customers from buying digital currency in Bainance

faribakhazaei

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Absa Bank, which operates in South Africa, has blocked the possibility of paying at Bainance Exchange using its credit cards. The private bank said Bainance's activities did not comply with South African regulations. Bainance responded by saying that the restrictions may be related to the South African central bank's new policy on foreign exchange.
 

Wisdom01

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It's very bad probably they want the exchange company to get a license to operate from the government , so they would allow them to carry out their full activities , they have been doing
 

Wisdom01

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Well i think they may lose customers indirectly as they are directly encouraging bank savings where fiat should be invested instead of any other non fiat related investments
But the way they are adopting their strategy might not work , because they would chase some of their customers that loves using the binance platform , hopes they reconsider the strategy they are adopting
 

GoldenLady

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Many central banks in Africa seem to be worried about how cryptocurrency dealings on Binance affects their foreign exchange. Nigeria had also been struggling with this for a while now.
 

BullyMaguire

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Well there's lots of countries that is skeptical about Binance so it's not really surprising at all.. users will need to find other ways atleast it's not a complete ban
 

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