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Nigeria Mulls Over Banning P2P Crypto Transactions; Labels Crypto Trading as National Security Concern
5.5.2024
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 trading as a national security concern. Three fintech...
Nigeria Cryptocurrency Clampdown: Central Bank Directs Fintech Firms to Stop Opening New Accounts
1.5.2024
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 directive with a current audit of the Know Your...
South African Regulator Licenses 75 Institutions as Crypto Asset Service Providers
24.4.2024
South Africa’s Financial Sector Conduct Authority said on April 22 that it has approved 75 institutions to be licensed as crypto asset service providers (CASPs). The regulator said the unveiling of licensed CASPs is intended to dispel misconceptions arising from the supposedly misleading...
Nigerian Blockchain-Based Payment Startup, Ivorypay, Partners With Stablecoin Issuer, Tether
21.4.2024
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 number of consumers and businesses across...
More Than 250 Zambian Students Attend Hackathon; Over 100 Earn Smart Contract Development Certification
17.4.2024
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 for grants ranging from $1,000 to $25,000. Students...
Experts: Nigeria’s Binance Crackdown Shakes Investor Confidence
16.4.2024
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 cryptocurrency exchange stated that the crackdown on Binance...
Nigerian Court Postpones Detained Binance Executive’s Tax Evasion Case to April 19
6.4.2024
A Nigerian court has postponed the tax evasion case of the detained Binance executive to April 19, while the hearing for the cryptocurrency exchange itself is scheduled for April 8. The court also ordered that the executive Tigran Gambaryan be held in the custody of the Economic and Financial...
Binance: Detained Executive Lacks Decision-Making Authority, Must Be Released
4.4.2024
Tigran Gambaryan, the Binance employee detained by Nigerian authorities, is a stringent law enforcement professional with no decision-making authority, according to the crypto exchange. Through his Financial Crime Compliance (FCC) team, Gambaryan has responded to more than 600 information requests...
Nigerian Central Bank Not in Charge of Crypto Regulation, Says Governor
28.3.2024
According to the governor of the Central Bank of Nigeria, the Securities and Exchange Commission is responsible for regulating cryptocurrencies. However, the governor said the central bank will collaborate with law enforcement agencies and regulators overseeing the Nigerian crypto sector....
Detained Binance Executive Escapes Custody in Nigeria, Government to Request Interpol Assistance
26.3.2024
A senior executive at Binance, who was detained by Nigerian authorities in late February, has since escaped from custody. The executive Nadeem Anjarwalla is believed to have left the country using a Kenyan passport. The Nigerian government confirmed Anjarwalla’s escape and said it would...
Group Urges US President Joe Biden to Secure Release of ‘Kidnapped’ Former Federal Agent
18.3.2024
The Chamber of Digital Commerce, a blockchain and crypto advocacy group, has urged U.S. President Joe Biden to assist in securing the release of a Binance executive “kidnapped” by the Nigerian government. The group warned that the Nigerian government’s arbitrary detention of Tigran...
Nigeria Proposes Rule Requiring Foreign Crypto Exchanges to Incorporate in the Country
17.3.2024
The Nigerian Securities Regulator has proposed a rule requiring virtual asset service providers to be incorporated and maintain an office within Nigeria. The regulator has also suggested a fivefold increase in the registration fee, which must be submitted alongside license applications from...
Nigeria Invited, Then Detained Binance’s Compliance Head and Africa Manager for Two Weeks: Reports
12.3.2024
Two senior executives of Binance, Tigran Gambaryan and Nadeem Anjarwalla, have been held against their will for the past two weeks by Nigerian authorities
Blockchain Advocacy Group Says Nigerian Government’s Actions Could Drive Crypto Activities Underground
5.3.2024
Nigerian blockchain lobby group has said the government’s decision to block access to crypto trading like Binance, Kraken and Coinbase will not “help Nigeria build the much-needed trust and confidence in the financial system.” The advocacy group also said the Nigerian...
Nigerian Presidential Adviser Assails Binance, Calls for Measures Against the Crypto Exchange
2.3.2024
Bayo Onanuga, a special adviser to the Nigerian president, has leveled accusations against Binance, blaming it for exacerbating the local currency’s depreciation against major currencies. Onanuga called for immediate action against Binance, warning that its activities could potentially undermine...
Global BTC Trading App Strike Launches ‘First Fully-Featured Region Outside the US’
29.2.2024
The fiat and bitcoin payments app, Strike, has launched its “first fully-featured region outside the U.S.” According to Jack Mallers, the founder and CEO of Strike, the African continent presents “immense opportunities for financial innovation and economic freedom.” High...
South Africa Regulators to Unveil Document Categorizing Stablecoins as a ‘Particular Type of Crypto Asset’
26.2.2024
In 2024, the Intergovernmental Fintech Working Group, a consortium of South African regulators that unveiled a position paper on crypto assets in 2021, is expected to “publish additions to include stablecoins as a particular type of crypto asset.” The consortium is also considering...
Licenced Stablecoin on/off Ramp Yellow Card to Introduce USDC on Stellar Network
16.2.2024
The African stablecoin on/off ramp, Yellow Card, is set to introduce the stablecoin USDC on the Stellar network. This partnership has the potential to transform global payments and accelerate the adoption of digital assets. Lightning Fast Transfer Speed Yellow Card, a major licensed stablecoin...
Ethiopia’s Affordable Hydropower and Adoption of Crypto Mining Attracts Chinese Bitcoin Miners
13.2.2024
The Ethiopian state electricity company has reportedly signed power supply agreements with 21 mainly Chinese bitcoin miners. The African country’s pursuit of foreign exchange has seemingly taken precedence over the concerns often raised by climate change advocates. Ethiopia Set to Become...
Expert Calls for Full Cryptocurrency Regulation in Nigeria to Mitigate Digital Asset-Related Financial Crimes
12.2.2024
Nigeria must fully regulate crypto activities if it wants to curb financial crimes associated with digital assets, a forensic expert has said. The co-founder of A&D Forensics also called on Nigeria to enact laws that would mandate banks to vet service providers before granting them account...