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Kraken Halts South African User Deposits, Causing Crypto Premium To Rise to 3.5%

The premium of cryptocurrency assets on South African exchanges briefly surged to 3.5% due to Kraken's refusal to accept deposits from South African users. South African cryptocurrency experts attribute this to the Financial Action Task Force (FATF) placing South Africa on the gray list.

Reports suggest that the decision by US cryptocurrency exchange Kraken to stop accepting deposits from South African users has led to increased premiums for cryptocurrencies such as Bitcoin.

Previously, the price difference (arbitrage space) for cryptocurrency assets on global and South African exchanges was approximately between 0.7% and 1.5%.

Bitcoin Bitcoin $97,601.06
+1.02%
Cryptocurrency Kraken
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