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Binance Claims Ignorance of $10 Billion Fine Imposed by Nigerian Government
4.3.2024
Binance, a leading cryptocurrency exchange, has denied allegations made by a Nigerian government official that it is facing a $10 billion fine. While Binance maintains its commitment to fostering a positive relationship with the Nigerian government, it firmly states that it will not succumb...
The Nigerian Government and Binance: The Way Forward — CMO of Flincap
3.3.2024
The promise of the blockchain and cryptocurrency still remains strong. Globally, there continues to be growing interest in the blockchain and peer-to-peer exchanges. We are seeing the institutional adoption of crypto and a rise in interest in retail adoption, too. We have seen the example in...
Report: Nigerian Government Imposes $10 Billion Fine on Binance
2.3.2024
The Nigerian government has reportedly slapped the cryptocurrency exchange Binance with a $10 billion fine. According to a Nigerian government official, Binance is being punished for causing the local currency’s recent plunge against major currencies. Binance’s Alleged Influence on...
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...
IOTA Allocates $10 Million To Tokenization Startups In Africa
29.2.2024
The IOTA Ecosystem Foundation has allocated $10 million to nurture early-stage tokenization startups, focusing on real-world asset trading in the UAE and Africa. How is this impacting IOTA's price?
The post IOTA Allocates $10 Million To Tokenization Startups In Africa appeared first on Cryptonews
Strike announces a major expansion in Africa
29.2.2024
Strike has officially announced the launch of its Bitcoin products and services in Africa. While the offerings are restricted to certain regions, Strike is confident that they will soon enter more places in the years to come. The launch of Strike Africa applies to the Ivory Coast, Gabon, Nigeria...
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...
Nigeria Detains Two Binance Executives, Crypto Platform Accused of Exchange Rate Manipulation
28.2.2024
Nigerian authorities have reportedly detained two senior executives from Binance who had recently arrived in the country. The Central Bank of Nigeria’s governor stated that in 2023 alone, $26 billion flowed through the cryptocurrency exchange from sources and users that the bank could...
Bitcoin-Focused Payments App Strike Rolls Out Services to Africa
27.2.2024
Bitcoin-focused payments firm Strike is expanding its services to African countries including Nigeria, South Africa and Zambia, the company announced in a blog post Tuesday
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...
Coinbase CEO Says No Access Block in Nigeria, Platform Operating Normally
24.2.2024
Coinbase CEO Brian Armstrong has dismissed reports of his cryptocurrency exchange being blocked by Nigerian authorities. He emphasized that Coinbase products are fully operational in Nigeria without any interruptions. “We have not received any outreach or communication from officials...
FATF Grey Listing Concern Prompts Kenya to Establish a Crypto Working Group
23.2.2024
The fears that Kenya’s lack of a regulatory framework for overseeing the crypto industry has prompted the government to establish a working group tasked with drafting crypto regulations. Authorities in the East African nation are confident that the approved regulations will designate a sole...
South Africa’s Budget Review Signals Embrace of Digital Payments and Crypto Assets
22.2.2024
South Africa has unveiled its 2024 budget, leveraging stablecoins and blockchain technology to promote financial inclusion and act as a critical driver for enhancing digital payments nationwide.
The post South Africa’s Budget Review Signals Embrace of Digital Payments and Crypto Assets...
South Africa to Start Work on Stablecoin Regime, Will Start by Considering Use Cases
22.2.2024
The Intergovernmental Fintech Working Group is also considering the impact of tokenization on domestic markets
Nigerian Users Criticize Binance for Imposing Exchange Rate Caps on USDT to Naira Transactions
22.2.2024
Some Nigeria-based users of Binance’s peer-to-peer platform have blasted the crypto exchange’s decision to block or remove traders quoting USDT to naira exchange rates exceeding NGN1,802. Binance says it has the right to remove “users behaving in a malicious or manipulative...
Roqqu Announces the Inclusion of Bitcoin.com’s VERSE Token on its Wallet Platform, Aiming to Foster DeFi in Africa
21.2.2024
PRESS RELEASE. 21st February, 2024 – Roqqu, a leading African blockchain technology company with over 1.6 million users and a vibrant community of 700,000 active users, is thrilled to announce the listing of VERSE token, the official utility and rewards token of Bitcoin.com, on its robust wallet...
Former NFL Star Russell Okung’s Crypto Adoption Comments Ignite Bitcoin vs. Stablecoins Debate
21.2.2024
Comments on Lightning Network adoption, made by Russell Okung, a former NFL star who is among the first to receive part of his salary in crypto, sparked a discussion that highlighted the opposing opinions of the crypto community about the usage of bitcoin and stablecoins in emerging markets....
Investors in Collapsed Ponzi Scheme Resist Liquidator’s Attempts to Force Repayment at Current BTC Prices
20.2.2024
Investors in the bitcoin Ponzi scheme Mirror Trading International are reportedly resisting liquidators’ attempts to have them repay digital assets withdrawn before it collapsed. According to the investors’ lawyer, MTI liquidators are intentionally misinterpreting the Insolvency...
Nigerian Microfinance Bank Carbon Acquires Fintech Startup Vella Finance
18.2.2024
Vella Finance, a Nigerian fintech startup, was recently bought by the microfinance bank Carbon. The acquisition of the fintech startup paves for Carbon to launch a new banking platform targeting Nigerian businesses. New Business to Leverage Artificial Intelligence The Nigerian microfinance bank...
Nigeria’s Headline Inflation Increases as Central Bank Intensifies Foreign Exchange Controls
17.2.2024
In the first month of 2024, Nigeria’s headline inflation rose from nearly one percent to 29.9%. However, on a year-on-year basis, the January 2024 headline inflation rate was 8.08 percentage points higher than the January 2023 rate. Many commentators identify foreign exchange shortages as...