South African Crypto Exchange Banxso Suspended for Misleading Statements and Alleged Deep Fakes
The Financial Sector Conduct Authority (FSCA) in South Africa temporarily revoked the financial services provider license of Banxso, a platform providing cryptocurrency trading, on Wednesday, due to concerns over its marketing activities promising unrealistic returns to customers.
Previously, there were allegations that Banxso used deep deception in its advertising and employed aggressive sales tactics to force customers to invest without proper risk assessment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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