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Flutterwave Kenya License Controversy: Fintech Giant Reportedly Applied in 2019
11.8.2022
The Nigerian fintech unicorn, Flutterwave, reportedly said it submitted an application for a payment service provider license to the Central Bank of Kenya back in 2019. The fintech also said it has remained in constant contact with the central bank and is hopeful it will get the license....
Europe’s Securities Regulator ESMA Seeks to Obtain Crypto Transaction Data
3.8.2022
The European Securities and Markets Authority (ESMA) is gearing up to implement stricter oversight in regards to crypto-related transactions. The agency is now looking to hire suppliers of trading data, as monitoring major participants in the market falls under its responsibilities. ESMA Launches...
Tax Agency Vows to Go Hard After Koreans Using Crypto to Evade Levies
3.8.2022
South Korea’s tax administration has pledged to take strict measures against tax evasion through virtual assets and platforms. While the Korean government is yet to start taxing capital gains resulting from crypto investment and trading, authorities in Seoul claim cryptocurrencies have been...
Kenya Central Bank Orders Financial Institutions to Stop Dealing With Two Nigerian Fintechs
1.8.2022
In a letter addressed to the CEOs of financial institutions, the Central Bank of Kenya (CBK) has said financial institutions operating in the country must cease and desist from dealing with two Nigerian fintechs, Flutterwave and Chipper Cash. The letter reiterates the CBK governor Patrick Njoroge...
SEC Chairman Publishes Video Outlining Plan to Regulate Crypto Trading Platforms
30.7.2022
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has published a video explaining how the agency plans to regulate crypto exchanges. “I’ve asked our staff to work directly with the platforms to get them registered and regulated,” the SEC chief...
UK National Crime Agency Seizes $33 Million in Cryptocurrency
28.7.2022
The British National Crime Agency (NCA) has revealed that it has seized £26.894 million ($32.75 million) in cryptocurrency. “Criminals increasingly exploited financial technology and crypto assets” that could harm “the U.K.’s economy and institutions,” said...
FBI Warns Crypto Owners Not to Fall for ‘Liquidity Mining Scam’
26.7.2022
The Federal Bureau of Investigation (FBI) has warned crypto investors about a scam using an investment strategy called liquidity mining. “This scam has been responsible for over $70 million in combined victim losses,” said the law enforcement agency. FBI Warns of Crypto Liquidity...
FBI Warns of Fake Crypto Apps — 244 Investors Defrauded, $42.7 Million Lost
20.7.2022
The Federal Bureau of Investigation (FBI) has issued a warning about fake cryptocurrency apps defrauding investors. “The FBI has identified 244 victims and estimates the approximate loss associated with this activity to be $42.7 million,” said the U.S. law enforcement agency....
Security Service of Ukraine Shuts Down Crypto Mining Farm Near Front Line in Kharkiv
20.7.2022
Ukraine’s main law enforcement agency has busted an illegal facility mining cryptocurrencies in the Kharkiv region. The operators of the crypto farm have been minting coins using large amounts of stolen electricity, threatening energy supply to critical infrastructure, the agency said....
US federal agency issues legal advisory on NFT investments
20.7.2022
The advisory primarily targets reporting of NFTs investments that represent “property,” such as real estate
Crypto Payments Are Acceptable in Foreign Trade, Russia’s Financial Watchdog Says
10.7.2022
Russian financial watchdog Rosfinmonitoring is ready to accept the use of cryptocurrencies in international settlements, the head of the agency, Yuri Chikhanchin, has indicated. The statement adds to growing support for the legalization of international crypto payments in Russia amid financial...
India's Law Enforcement Agency Probes Crypto Exchanges For Forex Violations
8.7.2022
The government agency has summoned cryptocurrency exchanges under the the Foreign Exchange Management Act 1999
Report: Nigerian Fintech Giant Flutterwave Accused of Laundering Money, More Than 50 Bank Accounts Frozen
8.7.2022
A Kenyan agency charged with tracing and freezing proceeds of crime said it recently obtained an order giving it the authority to freeze bank accounts belonging to Nigerian fintech Flutterwave. The agency alleges that Flutterwave is not providing merchant services as per claims, but is instead...
Colombia to Use Ripple Ledger to Issue Land Registry Certificates
4.7.2022
The government of Colombia announced a new system that will allow it to use the Ripple Ledger to store and authenticate property titles. The system, which was developed by a third-party company called Peersyst Technology, aims to allow the National Land Agency to issue a record number of land...
Tax Agency Starts Checking Crypto Traders in Romania
3.7.2022
Authorities in Romania are going after investors who failed to report revenues from crypto trading and pay tax. The offensive is part of efforts to respond to financial trends, the country’s tax body said in a statement, unveiling it was able to identify almost €50 million...
Argentinian Tax Agency Ramps Up Digital Wallet Seizures
1.7.2022
The Argentinian Tax Agency, the AFIP, has ramped up the seizures of digital wallets of taxpayers in the country. The institution managed to seize more than 1,200 digital wallets of taxpayers that had debts and didn’t have a bank account, or other properties available to be collected by...
Russia’s Financial Watchdog Investigates 400 Crypto-Related Cases, Director Tells Putin
30.6.2022
Rosfinmonitoring is conducting hundreds of investigations into cases involving cryptocurrencies, the head of the agency announced. Hundreds of thousands of Russians take part in crypto deals abroad, the top regulator also reported to the Russian president. Russian Authorities Initiate 20 Criminal...
Moody’s downgrades Coinbase due to bear: Warns it may not be the last
24.6.2022
Moody’s said further downgrades could follow if Coinbase doesn’t diversify from its current revenue model or it's unable to turn a profit even in a prolonged bear market
Blockchain isn’t as decentralized as you think: Defense agency report
22.6.2022
The report published Tuesday highlights several scenarios in which various actors can garner excessive, centralized control of a blockchain system
Kenyan Law Enforcement Agency Arrests Two Students Accused of Using Stolen Funds to Buy BTC
18.6.2022
Two Kenyan students accused of hacking credit cards and using the ill-gotten funds to buy bitcoin have been arrested by the Directorate of Criminal Investigations, a statement from the law enforcement agency has said. After converting the cryptocurrency to local currency, the two students would...