Africa Bitcoin Corporation Left With Two Directors After Boardroom Resignations

With all four directors now having resigned, the removal resolutions are no longer needed, but TechCabal reported that the original demand to appoint two new non-executive directors remains in force, leaving the company to rebuild its board.

The boardroom changes follow regulatory action by South Africa's Financial Sector Conduct Authority (FSCA), which fined former chief executive Warren Wheatley and debarred him for 20 years over findings of share-price manipulation. According to BitKE, Wheatley has disputed those findings, saying the transactions related to testing a faulty trading platform rather than any attempt to manipulate the share price. He subsequently resigned, and former Chief Investment Officer Akshay Karan and Tatum Keshwar-Wheatley also departed their roles following the regulatory sanctions.

ABC was formerly known as Altvest, which BitKE describes as Africa's first publicly listed firm to add Bitcoin to its treasury reserve before rebranding.

Authorities in South Korea have approved measures to cut domestic access to 27 websites run by unregistered crypto platforms, including KuCoin and BitMart.