Africa Bitcoin Corp CEO Resigns After FSCA Issues $307,750 Fine Over $18.53 Trade

South Africa's Financial Sector Conduct Authority has fined Africa Bitcoin Corporation's CEO approximately $307,750 — reported as R5 million — in connection with an $18.53 trade, prompting the executive's resignation. The disproportionate scale of the penalty relative to the underlying transaction is raising questions about regulatory proportionality in South Africa's crypto sector.