In this edition of Business Day Spotlight, our focus is FNB’s move to close down accounts for cryptocurrency exchanges and related parties.

Our host Mudiwa Gavaza is joined by Richard de Sousa, Senior Partner at AltCoinTrader, a local cyrptocurrency exchange.

The discussion begins with De Sousa giving an update of the relationship between the financial services sector and cryptocurrency industry.

De Sousa says this move has been a few months in the making. Though the local crypto-industry has a good working relationship with the SA Reserve Bank, private banks have a right to deny or stop their banking services “to anyone without explanation.”

Listen in to hear the full discussion and thoughts around these and other questions.

Business Day Spotlight is a MultimediaLIVE Production.