5 / 16 Relevant items tagged with #Africa
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Nigerian Court Rules Tigran Gambaryan Can Face Tax Evasion Charges on Behalf of Binance
[May 18 2:38 AM] The Binance executive, Tigran Gambaryan, who is currently in jail, has been deemed eligible by a Nigerian court to represent the cryptocurrency exchange in its ongoing tax evasion trial. A spokesperson for Binance stated that the charges against…
Nigerian Fintech Firm Flutterwave Confirms Hacking Attempt, Says Users’ Funds Safe
Bitcoin Miner Marathon In Talks With Kenya to Help With Its Green Energy Ambitions
[May 13 8:55 AM] Kenya's President William Ruto also wants to build a regulatory framework for crypto, with Marathon's help.
Nigerian Currency Becomes Worst-Performing After Erasing All Early April Gains
[May 12 2:45 PM] The Nigerian currency, which has been depreciating against the U.S. dollar in the past few weeks, has completely erased its gains from early April, making it the worst-performing currency in the world. The decline of the naira is attributed to…
Nigerian Experts Say Past Central Bank Policies Drove Users to P2P Crypto Platforms
[May 12 1:10 AM] Stakeholders in Nigeria’s cryptocurrency sector argue that the Central Bank of Nigeria’s previous decision to exclude cryptocurrency entities from the banking ecosystem has fueled the growth of peer-to-peer crypto trading. Nigerian authorities are…
Zambian Currency, the Kwacha, Plunges to New Record Low Against US Dollar
[May 10 8:51 AM] Zambia’s worsening shortage of foreign exchange as well as one of its worst droughts in recent memory saw the local currency drop to a record low of K27.3 to the dollar. As explained in the report, the kwacha has lost as much as 17% in the…
Nigeria Denies Binance CEO’s Claims of $150M Bribe Demand; Criticizes Attempt to Discredit Government
[May 10 5:20 AM] The Nigerian government has dismissed allegations from Binance CEO Richard Teng that representatives of the cryptocurrency exchange were solicited for a $150 million bribe by members of the House Committee on Financial Crimes (HCFC). A special…
Rwandan Research Paper Recommends CBDC With ‘Partial Pseudo-Anonymity’
[May 8 9:17 PM] A recent research paper from the National Bank of Rwanda recommends a two-tier, universal, zero-interest central bank digital currency (CBDC) with partial pseudo-anonymity. Although the research paper identifies 15 opportunities for CBDC, only four…
Binance CEO Says Nigeria’s Detention of Employee on ‘Spurious’ Charges Sets ‘Dangerous Precedent’
Chainalysis sets up regional HQ in Dubai amid local crypto boom
[May 8 7:25 AM] Chainalysis relocates regional headquarters to Dubai reflecting the UAE’s progressive stance toward blockchain technology.
Nigerian SEC to ‘Delist’ Local Currency From P2P Crypto Trading Platforms
[May 7 11:31 PM] The Director General of Nigeria’s Securities Regulator has announced plans to delist the local currency from peer-to-peer cryptocurrency trading platforms in the coming days. He insisted that the decision to delist the naira aims to eliminate the…
Kenyan President Requests Bitcoin Miner Marathon Digital to Review Nation’s Cryptocurrency Regime
[May 6 5:21 AM] The Kenyan President William Ruto recently revealed that his government has appointed Bitcoin mining company Marathon Digital as its consultant to review its cryptocurrency regime. The U.S.-based Bitcoin miner is reportedly set to discuss…
Nigerian Court Postpones Binance, Tigran Gambaryan Money Laundering Trial to May 17
[May 6 1:40 AM] A Nigerian court recently adjourned the trial of Binance and its executive, Tigran Gambaryan, to May 17. The adjournment came after the cryptocurrency exchange’s attorney stated that he had not received the necessary documents to prepare a defense…
Nigeria Mulls Over Banning P2P Crypto Transactions; Labels Crypto Trading as National Security Concern
[May 5 1:20 AM] Nigerian authorities are reportedly planning to prohibit financial institutions from facilitating peer-to-peer cryptocurrency transactions. According to a report, Nigeria’s Office of the National Security Adviser has classified cryptocurrency…
Nigeria restricts fintech onboarding to stop KYC-evading crypto investors
[May 1 2:00 AM] Nigerian fintech firms OPay, Kuda Bank, Moniepoint and PalmPay were directed to pause the creation of new accounts amid an ongoing audit of their KYC processes.
Nigeria Cryptocurrency Clampdown: Central Bank Directs Fintech Firms to Stop Opening New Accounts
[Apr 30 11:31 PM] The Central Bank of Nigeria has directed four fintech companies to cease the creation of new accounts, citing their potential use by cryptocurrency traders. An executive from one of the affected fintech companies has associated the Central Bank’s…
South African BTC Ponzi Scheme Mastermind Succumbs to Heart Attack While Detained in Brazil
[Apr 28 8:26 PM] Johann Steynberg, the mastermind behind a South African bitcoin Ponzi scheme, recently died of a heart attack while under house arrest on a farm in Brazil. According to his Brazilian wife, Steynberg left no will and had no assets that could be…
Nigerian Currency Reverses Early April Gains, Depreciating by 12% in Seven Days
[Apr 28 2:39 AM] The Naira recently depreciated by 12% in just seven days, thus shedding all the gains it made against the U.S. dollar in early April. Local media reports attribute the volatile naira’s latest drop to the growing mismatch between the supply and…
Kenya Establishes Working Group to Draft Rules Governing Crypto Entities
[Apr 26 2:38 AM] The Kenyan government recently established a multi-agency technical working group tasked with developing a framework for regulating and monitoring the cryptocurrency industry. The group, which includes financial regulators such as the Central Bank…
Nigerian Central Bank Disavows Letter Directing Banks to Sever Ties With Crypto Exchanges
[Apr 24 12:32 PM] The Central Bank of Nigeria (CBN) has disavowed a letter that allegedly instructed financial institutions to sever ties with four global cryptocurrency exchanges. The central bank stated that the letter did not originate from its office and…
Mauritania Central Bank Partners With Giesecke+Devrient to Develop a National CBDC
[Apr 23 3:24 AM] The Central Bank of Mauritania (CBM) has partnered with Giesecke+Devrient (G+D) to develop and launch a digital version of the national currency. The Germany-based security technology firm is expected to assist the CBM in outlining the…
Kenyan Authorities to Extradite Binance Executive to Nigeria by Month’s End
[Apr 23 1:42 AM] The Binance executive who reportedly escaped from custody in Nigeria is set to be extradited to the same country by the end of the month, according to reports. A Kenyan detective believes the extradition of Anjarwalla, who allegedly has ties to…
Nigerian Blockchain-Based Payment Startup, Ivorypay, Partners With Stablecoin Issuer, Tether
[Apr 21 2:38 AM] A Nigerian startup specializing in blockchain-based payments and remittances has entered into a partnership arrangement with the stablecoin issuer Tether. The arrangement is expected to extend the benefits of stable digital transactions to a larger…
Nigerian Central Bank Governor Denies Using Forex Reserves to Defend Local Currency
[Apr 20 5:21 AM] The Nigerian central bank governor has refuted claims that the bank is using the country’s foreign exchange reserves to shore up the naira. The governor attributes the decline in reserves to debt repayments and other payments, which are made…
Nigerian Instagram Celebrity Could Face Jail Time for ‘Spraying’ National Currency
More Than 250 Zambian Students Attend Hackathon; Over 100 Earn Smart Contract Development Certification
[Apr 17 2:35 AM] More than 250 Zambian university students recently participated in an online boot camp and hackathon which saw over 100 earning certification in smart contract development. The students who complete their minimum viable products (MVPs) can apply…
Experts: Nigeria’s Binance Crackdown Shakes Investor Confidence
[Apr 16 3:37 AM] The Nigerian government’s crackdown on cryptocurrency exchanges, including its targeting of Binance, has prompted some cryptocurrency firms to reconsider plans to either enter or further invest in the West African nation. A founder of a…
Binance Executive Located in Kenya After Escaping Nigerian Custody
[Apr 15 9:39 PM] Nadeem Anjarwalla, the executive from Binance who escaped custody in Nigeria, has reportedly been found in Kenya. Law enforcement agencies in Nigeria, spearheaded by the Economic and Financial Crimes Commission (EFCC), are in talks with their…
Volatile Nigerian Currency Rallies 12%, Becomes Best-Performing Currency in April
[Apr 14 4:10 PM] After months of sustained decline, the Nigerian currency has rallied since March and is currently ranked as the best-performing fiat currency in April. Andrew Matheny, an economist at Goldman Sachs, said the naira’s momentum can only be…