2 / 3 Relevant items tagged with #CryptoAfrica
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Ghana’s Securities Regulator Creates Taskforce to Build Capacity for Crypto Asset Oversight
[Dec 20, 2023 12:30 AM] The Ghanaian securities regulator has established a task force which is expected to help it boost its capacity to regulate crypto assets. Ghanaian residents have continued to trade and invest in cryptocurrencies and this has forced the regulator to…
Nigerian Crypto Exchange Describes Deposit Suspension as ‘Industry-Standard Precautionary Measure’
Report: Worldcoin Set to Resume Kenyan Operations in Early 2024
[Dec 18, 2023 5:00 AM] Worldcoin, the iris biometric crypto project, has reportedly reached an agreement with Kenyan authorities which allows it to resume operations in the African country. Worldcoin representatives are said to be “working directly with regulators…
Report: South African Financial Institutions Will Soon Offer Services Related to Cryptocurrencies
[Dec 13, 2023 5:00 AM] About 73 applicants who are seeking a license to offer crypto products in South Africa are already registered as accountable institutions with the Financial Intelligence Centre, an executive at the crypto exchange Luno has said. According to the…
Report: 47% of Nigerians Engaged in Crypto-Related Activities
[Dec 10, 2023 4:30 PM] A new study has found that as much as 47% of Nigerians are actively engaged in crypto trading which is now increasingly incorporated in their financial lives. The analysis also showed that crypto ownership in the country grew by 15% between 2020…
The Bulk of Crypto Trading Volumes in Africa Are Generated by Institutional Traders — Farzam Ehsani
[Dec 9, 2023 12:30 AM] Farzam Ehsani, the founder and CEO of the South African crypto exchange Valr, has stated that institutional traders account for the bulk of the African continent’s crypto trading volumes. To support this point, Ehsani referred to…
Nigerian Crypto Firm Bitmama to Pay $1 Million for Startup That Raised $3 Million in February
[Dec 8, 2023 5:30 AM] The Nigerian crypto platform Bitmama is reportedly set to acquire the African remittances startup Payday for $1 million. Reports of Payday’s acquisition come almost a year after the startup raised $3 million in a funding round…
Report: Kenyan Parliament Committee Approves Bill Proposing to Widen Definition of Securities to Include Crypto
[Dec 6, 2023 5:30 AM] A Kenyan parliamentary committee has reportedly approved a bill that proposes to widen the definition of securities to include cryptocurrencies. The bill proposes a tax on crypto exchanges and digital wallets as well as a capital gains tax on users…
Nigeria Law Enforcement Nab Politician Who Laundered Funds Stolen From Crypto Exchange
Stitch Launches Payment Service Allowing Customers to Settle With Crypto in South Africa
[Nov 23, 2023 7:30 AM] A new product offering recently launched by Stitch, a South African payment service provider, now enables customers to settle transactions with crypto. According to Stitch, this new functionality makes it possible for customers to pay with bitcoin…
Africa-Focused Crypto Exchange Yellow Card Bags Africa’s ‘Disrupter of the Year’ Award
Kenyan Blockchain Association Told to Help Draft Regulation Bill, ‘Demystify’ Crypto
[Nov 9, 2023 6:30 AM] The Blockchain Association of Kenya has been asked to help create the country’s first draft bill on crypto asset regulation. The National Assembly’s Departmental Committee on Finance and National Planning also asked the association to…
South African Financial Giant Says It Will Inject Capital Into ZARP Stablecoin Network
Nigerian Fintech Startup Vella Finance Drops Crypto-Related Services
[Oct 31, 2023 5:30 AM] The Nigerian fintech Vella Finance recently informed users and subscribers that it would stop offering crypto related services starting on Oct. 30. According to co-founder Tolu Adedayo, offering crypto and banking services at the same time is not…
South African Crypto Platform Pins Hope on ‘Phased Asset Recovery’ Proposal
[Oct 30, 2023 5:30 AM] A South African crypto investment platform has expressed hopes that an asset recovery proposal will result in users regaining access to funds blocked after its custody partner froze withdrawals. The crypto platform said it has also engaged…
Report: Operators of Central African Republic-Based Crypto Investment Firm Disappear With $1.6 Million
[Oct 24, 2023 9:30 PM] According to reports, the operators of a Central African Republic (CAR) crypto company which promised a high return on money invested have disappeared along with $1.6 million in investor funds. High-profile personalities including lawmakers and…
Nigerian Bank Reportedly Freezes Accounts Belonging to 500 USDT Traders
[Oct 24, 2023 3:30 PM] A Nigerian bank has reportedly blocked bank accounts belonging to some 500 digital asset traders. The affected accounts are said to have received a portion of the more than $10 million that was stolen from Access Bank by hackers between May and…
Report: Africa-Focused Crypto Trading App Shut Down — Co-Founder Says Only Nigerian Users Affected
[Oct 22, 2023 3:30 AM] The Africa-focused crypto trading app Vibra has reportedly stopped working in Ghana, Kenya, and Nigeria. Reports that the app is not working in the three countries contradict the co-founder’s claim that only users from Nigeria are affected…
Report: Valr Partnership With Visa to Expand the Reach of the South African Crypto Exchange
[Oct 18, 2023 3:00 AM] The South African crypto exchange Valr said its partnership with the global card firm Visa is set to expand the former’s reach. The two companies said they would work on a solution that enables Valr customers to use the card firm’s network to…
Nigerian Court Convicts P2P Crypto Trader Accused of Operating a Pig Butchering Scam
Nigerian Central Bank Refutes Media Reports Suggesting Its CBDC Poses a Threat to Financial Stability
[Oct 11, 2023 1:00 AM] The Nigerian central bank has disputed media reports suggesting its Sept. 11, 2023 document implies that its e-naira currency poses a threat to financial stability. The central bank said it felt compelled “to clarify the reports to ensure…
South African Crypto Exchange Valr Receives ‘Initial Approval’ From Dubai Virtual Assets Regulator
[Oct 4, 2023 9:30 PM] Valr, the South Africa-based crypto exchange, recently said it had won initial approval from the Dubai virtual assets regulator. The crypto exchange’s Head of Growth, Blake Player, said Valr has been attracted by the Middle East region’s…
Crypto Exchange Bybit Launches Derivatives Products in South Africa
Worldcoin Kenya Controversy: Cabinet Secretary Blasted for Inconsistent Statements About Project’s License Status
Report: Victims of South African BTC Scam Set to Receive Portion of Invested Funds
[Oct 3, 2023 12:45 AM] Some investors who invested in the South African bitcoin pyramid scheme MTI are set to receive part of their money back once a court rules on how liquidators are supposed to handle claims. Liquidators expect to make more than one payout to affected…
Report: Hacked Nigerian Crypto Exchange Raises Capital for User Reimbursements
[Oct 1, 2023 2:00 AM] The recently hacked Nigerian gift card and crypto exchange platform Patricia said on Sept. 29 that it had raised money to refund users. Some users have reportedly grown impatient with the crypto exchange and are weighing their legal options…
Study: Sub-Saharan Africa’s Bitcoin Transaction Volume Number One Globally, Data Indicates Shift Towards Stablecoins
Opera Launches Blockchain-Based Wallet Enabling Rapid P2P Stablecoin Transfers for African Users
[Sep 21, 2023 5:30 AM] The creator of the Opera Mini web browser recently announced the launch of a blockchain-based wallet which makes it possible for African users to rapidly transfer stablecoins. Integration of the stablecoin wallet into the Opera Mini browser is…
Kenyan Minister: US Government Recently Foiled Attempt to Detain Worldcoin Representatives
[Sep 20, 2023 5:30 AM] Kenyan law enforcement recently detained two Worldcoin executives as they attempted to depart the country. According to the Kenyan Interior Minister, the duo were eventually let go after the U.S. government’s intervention. U.S. Government…