• News
  • Market Cap
  • Buy Crypto

Subscribe to Updates

Get the latest crypto news from LockMeta about cryptocurrency, nft and metaverse.

Facebook Twitter Telegram
Trending
  • Jack Dorsey changes his Twitter profile to “Bitcoin”
  • IOHK: Launch of Project Catalyst Fund9 on June 1 with a total incentive of $16 million
  • ZCash development team launches proof-of-stake PoS transformation research
  • STEPN: Increase BEP20-GMT by the same amount by locking part of the Solana on-chain GMT, without causing GMT inflation
  • South Korea’s financial regulator asks crypto exchanges to step up inspections of stablecoins to prevent the Luna incident from happening again
  • STEPN has newly minted 63,952 pairs of shoes in the past 7 days
  • Azuki will airdrop limited-edition Azuki Twin Tigers physical jackets for NFT holders
  • Zhu Xiaohu says he has bought StepN’s BSC running shoes
Facebook Twitter Telegram
LockMetaLockMeta
  • News
  • Market Cap
  • Buy Crypto
LockMetaLockMeta
Facebook Twitter
Home»Crypto News Flash»Standard Bank sends an account termination notice

Standard Bank sends an account termination notice

October 23, 20210 Views
Facebook Twitter Pinterest LinkedIn Tumblr Email

On October 23, it was reported that Standard Bank, one of the largest banks in South Africa, sent an account termination notice to customers who provide automatic cryptocurrency arbitrage services.

This move caused an uproar in the local cryptocurrency industry. The issuance of these notices also raised questions about the standards used by Standard Bank when deciding which accounts must be terminated. For example, someone quoted Carel de Villiers, co-founder of arbitrage trading company Shiftly, as saying that he questioned the criteria used by Standard Bank.
Although de Villiers admitted that Shiftly is not a Standard Bank customer, he said that it is strange that the bank still maintains business relationships with its competitors. Note: The bank has refused Shiftly to open an account. Another arbitrage trader who asked not to be named also claimed that their account was terminated only because of the company’s arbitrage business model. These two statements were confirmed by Sean Sanders, founder of the cryptocurrency investment platform Revix. But a Standard Bank spokesperson defended the notice, insisting that the bank’s actions were non-discriminatory and only to ensure that all customers comply with regulatory requirements.

Standard Bank
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related News

Jack Dorsey changes his Twitter profile to “Bitcoin”

May 22, 2022

IOHK: Launch of Project Catalyst Fund9 on June 1 with a total incentive of $16 million

May 22, 2022

ZCash development team launches proof-of-stake PoS transformation research

May 22, 2022

STEPN: Increase BEP20-GMT by the same amount by locking part of the Solana on-chain GMT, without causing GMT inflation

May 22, 2022
Facebook Twitter Telegram
  • About Us
  • Contact Us
  • Privacy Policy
  • Terms of Service
© 2022 LockMeta.

Type above and press Enter to search. Press Esc to cancel.