Search
South African University Professor Urges Country to ‘Finalize Cryptocurrency Policy’ — Warns Against Resisting Crypto
27.9.2021
A professor with the University of Johannesburg, Rabelani Dagada, has urged South Africa to finalize its cryptocurrency public policy if the country still wants to become a hub for digital currency innovation. History Will Repeat Itself In an opinion published by Itweb, Dagada warned South African...
Remittances to Africa Set to Drop by 5.4 % to $41 Billion — Covid-19 Pandemic and High Sending Costs Blamed
21.9.2021
According to findings from the Continental Migration Report 2021, remittances to African countries are projected to decrease from the $44 billion recorded in 2020 to $41 billion. The Covid Effect As expected, the Covid-19 pandemic is identified as one of the main causes of the decline. However...
Biggest Bank in Venezuela Suffers 5 Day Outage After Hack Attempt
21.9.2021
The Bank of Venezuela, one of the biggest state banks in the country, is now experiencing an outage that has left its customers without services for five days. The bank published a PR statement stating this was the result of a “terrorist attack” on the national financial system, being...
Cryptocurrency Is Picking up Steam in Small Cities in India: Report
20.9.2021
Cryptocurrency usage and trading are experiencing a boom in India, and most of this growth is coming from small cities. According to reports from local exchanges, the growth has been exponential. The profile of these new participants has also been interesting, as they are highly educated, not only...
Africa Has Some of the ‘Highest Grassroots Adoptions in the World’ — Chainalysis Crypto Preview
16.9.2021
While Africa is seen as one of the smallest cryptocurrency markets, according to a preview of Chainalysis’ Geography of Cryptocurrency annual report, this region has “some of the highest grassroots adoptions in the world.” African Volumes Mainly Composed of Retail Transfers...
25% of South Africans Own Cryptocurrency With Average Value of Assets Held Below $70
15.9.2021
According to the findings of a study by KLA, a market research and data specialist firm, some 47% of South African adults are holders of cryptocurrency, with the majority of this number holding low-value investments. In addition, the study shows that 36% plan to invest in crypto in the future....
Nigeria’s CBDC ‘a Safer Option’ Than Privately Issued Cryptocurrencies: Central Bank Official
14.9.2021
As part of the Central Bank of Nigeria (CBN)’s digital currency charm offensive, Folashodun Shonubi, the institution’s deputy governor, has claimed that the country’s upcoming central bank digital currency (CBDC) will be a “safer option from privately issued...
Nigerian Central Bank: We Are Not Worried About the Naira’s Valuation
9.9.2021
The Central Bank of Nigeria (CBN)’s director of monetary policy, Hassan Mahmud, has suggested that the institution is not worried about the naira’s valuation but is instead interested in “boosting dollar supply on the currency market.” Naira Depreciation According to...
African Economist Says Regulated Cryptocurrencies Are Reasonable Alternative to Single Trade Currency
6.9.2021
A Nigeria-based research and development economist, Gospel Obele, has called “for a unified regulatory mechanism for cryptocurrency trading.” He adds that such regulation of cryptocurrencies can potentially “complement an African digital currency,” hence this needs to...
Sunacrip and Venezuelan Intelligence Police Issue Warning on Cryptocurrency Scams
6.9.2021
Sunacrip, the Venezuelan cryptocurrency watchdog, and the Intelligence Police (CICPC) issued a warning for the general population about cryptocurrency scams. The institutions gave a series of recommendations to avoid being scammed by cryptocurrency Ponzi schemes involving the national...
Central Bank of Nigeria Selects Barbados-Based Fintech Firm as Technical Partner for CBDC Project
1.9.2021
The Central Bank of Nigeria (CBN) has named the fintech firm Bitt Inc. as a technical partner for its digital currency project, the e-naira. As a technical partner, Bitt is expected to use its “technological competence and implementation experience” to help the CBN successfully launch...
Annual US Dollar Remittances to Nigeria Surge to $34 Billion but Forex Woes Persist
31.8.2021
According to a report, the value of annual dollar remittances by Nigerians working abroad has surged to $34 billion, a figure that easily surpasses the previous record-high of $25 billion. Still, a large portion of the funds doesn’t seem to be entering domestic forex markets. Target Attained...
South African Central Bank Governor Reiterates: ‘Crypto Is Not Currency’
30.8.2021
The governor of the South African Reserve Bank (SARB), Lesetja Kganyago, has reiterated the central bank’s longstanding belief that cryptocurrencies like bitcoin are not currencies. According to Kganyago, crypto-assets, as he prefers to call them, are not currencies because they fail to meet...
Emerging economies dominate Chainalysis’ 2021 Global Crypto Adoption Index
18.8.2021
The report indicated that worldwide adoption of crypto assets jumped over 1,200%, with peer-to-peer platforms driving cryptocurrency usage in emerging economies
Brazilian Federal Police Launch Nationwide Operation Against Crypto-Related Money Laundering
17.8.2021
The Brazilian Federal Police launched Operation Compliance, a probe against cryptocurrency-related money laundering crimes last week. The probe resulted in the execution of several seizure warrants across the country, involving 150 federal policemen active in five different cities. Operation...
President of Argentina Open to Adopting Cryptocurrencies as Legal Tender
16.8.2021
Alberto Fernandez, the president of Argentina, stated he is open to the adoption of cryptocurrencies as legal tender in an interview this week. Fernandez said there is a big discussion around the value and use of cryptocurrencies not only in Argentina but also all over the world. However,...
Global Charity Organization Launches Crypto-Based Vouchers for Vulnerable Groups in Kenya, Ecuador
14.8.2021
The global charity organization, CARE, has created crypto-based vouchers that will be distributed to women and select groups in Africa and Latin America. According to CARE, these vouchers will be redeemable for goods, services or cash and linked to the needs of recipients. However, in its statement...
Kidnappers Kill Venezuelan Citizen for Not Paying Ransom Requested in Bitcoin
14.8.2021
A Venezuelan merchant was kidnapped and killed after his family failed to gather a ransom that kidnappers explicitly asked to be paid in bitcoin. The perpetrators asked for a sum of 1.5 bitcoin to release the hostage, later lowering the ransom to 0.5 bitcoin. The family of the victim finally...
Bank of Ghana Selects German Technology Firm as Partner for CBDC Project
13.8.2021
The Bank of Ghana (BOG) says it has signed an agreement with Giesecke Devrient (GD) to implement a pilot central bank digital currency (CBDC) project. This pilot CBDC, which is a precursor to the e-cedi digital currency, is set to be tested with banks, payment service providers, merchants...
Disconnected Venezuelan Bitcoin Miners Might Resume Operations in 48 Hours
13.8.2021
A group of Venezuelan Bitcoin miners that were disconnected from the power grid by regional authorities in the state of Carabobo might resume operations in the next 48 hours, according to the national cryptocurrency watchdog, Sunacrip. The institution met with affected miners on Wednesday...