SEIZE SILVER TIGER TRADES R5M FUNDS
The South African Reserve Bank (Sarb) last week issued a notice of forfeiture against Silver Tiger Trade for more than R5 million in assets held in accounts at Standard Bank and crypto exchange Ovex.
The notice says the funds will be deposited into the National Revenue Fund (the central fund for national government).
This is the latest forfeiture by the Reserve Bank under exchange control regulations.
The notice gives no details as to the nature of the alleged breaches, but it is believed to be the first time the central bank has issued a forfeiture notice to a crypto exchange.
Odendaal precedent
A legal precedent was set in April when Sarb attached the assets of Berdine Odendaal, the reputed lover of former Steinhoff CEO Markus Jooste, who committed suicide in March just as he was due to be arrested for fraud.
Bu hikaye The Citizen dergisinin October 08, 2024 sayısından alınmıştır.
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Bu hikaye The Citizen dergisinin October 08, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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