South African Regulator Issues Warning on FTX, Bybit

South African Regulator Issues Warning on FTX, Bybit
South Africa’s financial watchdog issued a notice warning consumers to be “cautious and vigilant” when dealing with crypto exchanges FTX and Bybit.The Financial Sector Conduct Authority said Tuesday that FTX is not authorized to trade in contracts for difference (CFDs), which are instruments that allow traders to speculate on the short-term movement of an asset’s price.”It has come to the attention of the FSCA that FTX might be offering the South African public, access to its online platform to trade in amongst others, derivatives instruments,” the FSCA said.”FTX is not authorised to give any financial advice or render any intermediary…