Removal of crypto entities such as exchanges from the banking system 'can potentially create opacity in the affected persons or entities’ financial conduct.' derisking regulation
South African Banking Regulator: 'De-risking' Crypto Firms Potentially Creates 'Opacity in Financial Conduct'Prudential Authority, risk assessment does not mean financial institutions should avoid or eliminate risks via the wholesale termination of client relationships with entities such as crypto asset service providers. Instead, the regulator wants financial institutions to only consider “de-risking” when the “risk posed is too great to manage successfully.
However, in the guidance note, which must also be sent to the respective institutions’ independent auditors, the CEO instead urges banks to perform the relevant risk assessment for each crypto asset or crypto asset service provider . Tshazibana explains:
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