ZAR X exchange licence suspended

[BusinessTech]

ZAR X exchange licence suspended

The Financial Sector Conduct Authority (FSCA) has suspended the exchange licence of stock exchange, ZAR X, over liquidity and capital adequacy concerns.

 

[rvZA]

Anyone else surprised? Did not expect anything less....

 

[Thor]

Anyone else surprised? Did not expect anything less....

I am, I've met their CEO numerous times, the guy is extremely honest #1 and incredibly driven against all the odds.

One does not simply compete against the JSE.

So yea this is a surprise, but it appears to be more of a technically than a outright issue, so I am sure it will be resolved.

 

[Johnatan56]

@rpm did you ask ZAR X for comment?

 

[Thor]

...and yet we have altcointrader

What?

ZAR X is not crypto.

This is ZARX

Stock Exchange, Trading, ZAR X | ZAR X

ZAR X’s financial services are designed to be easy, low-cost, relevant and seamlessly integrated. To achieve this, four principles have underlined the design of ZAR X’s business model: Simplicity, Low-cost, Transparency and Agility.

www.zarx.co.za

ZAR X

ZAR X is a stock exchange and financial services provider that leverages technology to provide affordable investment products.

www.zarx.co.za

 

[krycor]

lmfao at the conspiracy theory kak people spew.

They knew this was coming, the could not conclude deals to provide the capital liquidity needed.. according to interview waiting for pic sign off which takes time.

But hey.. believe what u want hey. It’s not like the JSE doesn’t comply to the same rules..

 

[w1z4rd]

Had to remove my original post, for a moment I thought they were talking about the scam coin that altcointraders has listed.

 

[Thor]

Ask and I'll explain.

Please do, I am confused.

 

[Thor]

My point is he backed the wrong horse. Go crypto, then you can sell sea monkeys on the side at the same address.

Ahh, sarcasm.
I am horrible with it.

 

[krycor]

Believe me, the JSE has a bit more clout. These things are a lot harder for small guys.

I don’t doubt it.. SA corporate sector is about as competitive as a rabbit vs a tortoise race.

But the requirement isn’t anything new and judging by the interview I heard they were well aware it was gonna be a problem. Now if the PIC is unduly delaying then yes..