Binance reacted and responded to a notice published by the South African Financial Sector Conduct Authority (FSCA) on Sept 3, 2021, warning users to be vigilant when dealing with the cryptocurrency exchange.
The finance authority claims that the exchange isn’t authorized to give any financial advice or render any intermediary services.
South African regulatory body issues public warning
In a notice, published on Sept 3, 2021, the South African regulatory body known as the Financial Sector Conduct Authority, published a press release warning South African consumers about the risks of engaging the “Binance Group” via its Telegram group. It is through this group, according to the FSCA, that access is allegedly obtained to the cryptocurrency trading platform.