
Fintech Kastelo weighs walking away from appealing blocking order
The FSP has paused its crypto-arbitrage service after the High Court upheld the SARB’s order, finding reasonable grounds to suspect exchange control contraventions.

The FSP has paused its crypto-arbitrage service after the High Court upheld the SARB’s order, finding reasonable grounds to suspect exchange control contraventions.

The case focuses attention on how the exchange control framework applies to crypto platforms that facilitate offshore trading through loans.

Clients can link to their existing Luno accounts – or create one in-app – to buy, hold, and sell more than 50 crypto assets.

Leveraging the Model Law on Cross-Border Insolvency, the liquidators co-ordinated with courts in the US, UK, and Australia, setting a precedent for future international crypto claims.