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Nigeria-China Currency Swap: Activist Lawyer Accuses IMF and World Bank of ‘Economic Sabotage’ to Promote US Dollar, Urges Nigeria to Join BRICS
10.5.2023
Nigerian human rights activist and lawyer, Femi Falana, has accused the International Monetary Fund (IMF) and the World Bank (WB) of sabotaging the currency swap arrangement between China and Nigeria. Falana said the Nigerian central bank and the two global financial institutions are helping...
Africa Moves to Lightning, Stablecoins as Bitcoin Transaction Fees Soar
9.5.2023
Those already using stablecoins and lightning transactions are not affected, but for many in Africa, higher bitcoin fees are a problem
Nigerian Payments Provider Nomba Secures $30 Million in Pre-Series B Funding Round
8.5.2023
The Nigerian payments startup, Nomba, is reported to have raised $30 million via a pre-Series B that was led by Base10 Partners. The new solution is expected to help the startup operate more efficiently and deliver “excellent customer experiences.” Plugging Gaps in Payment Processes...
US-Based Bitcoin Focused Startup Fedi Raises $17 Million in Series A Funding Round
6.5.2023
Fedi, the U.S.-based fintech which is led by the Nigerian bitcoin advocate Obi Nwosu, said on May 3 that it recently raised $17 million in a Series A funding round. The company said it will use the funds to help it launch what it called the “world’s first federated operating system.”...
Vantage earns the FSCA license to run services in South Africa
5.5.2023
Vantage recently announced that it had earned its operating license from the FSCA (Financial Sector Conduct Authority). With the license, the platform can now run its services in South Africa. The FSCA acts as a regulatory body for financial projects in South Africa. It is accountable...
Nigeria Passes ‘National Blockchain Policy,’ Industry Player Says Central Bank Unlikely to Lift Crypto Ban
5.5.2023
The Nigerian Federal government said on May 3 it had passed what it called the “national blockchain policy.” The Nigerian minister of communications and digital economy, Isa Pantami, said the new policy is a product of consultations with 56 institutions and personalities. Lucky Uwakwe...
Kenya considers tax on crypto, NFT transfers and online influencers
5.5.2023
A bill introduced in Kenya could see a tax added to cryptocurrency and NFT transfers and has been met with a mixed reaction online
3% Tax on Crypto Transfers Part of Kenya's Proposed Budget: Bloomberg
5.5.2023
Kenya's Finance Ministry, the National Treasury, has proposed a 3% tax on the transfer of digital assets for the coming budget year
Crypto Innovation and Regulation Should Be Partners, Not Adversaries
3.5.2023
Developers are flourishing elsewhere amid strident relationships with U.S. regulators
Tokens but not crypto: Nigeria SEC prepares new digital asset rules
1.5.2023
Nigeria’s securities regulator will take at least ten months to determine whether to register a digital asset-related company
BRICS to Promote National Currencies Before Issuing Common One
1.5.2023
The BRICS bloc is now focused on expanding the use of the currencies of its members, according to the representative of one of them. The establishment of a single currency for the group is not an immediate task at this point in time, the diplomat indicated in an interview. Wider Use of National...
Zimbabwe’s De-Dollarization: Central Bank to Issue Gold-Backed Digital Currency in Early May
30.4.2023
The Reserve Bank of Zimbabwe (RBZ) has said it will start issuing gold-backed digital tokens on May 8. The first phase of the launch will see the digital tokens being issued for “investment purposes with a vesting period of 180 days.” The RBZ also revealed that the gold-backed digital...
Report: Kenya to Start Levying Tax on Revenue Earned by Crypto Exchanges
29.4.2023
According to regulations published by the country’s treasury secretary, global crypto exchanges used by Kenya’s estimated 4 million users will start paying a 1.5% tax on revenues earned. Tax-Avoiding Digital Asset Platforms The Kenyan Treasury has said it will start levying taxes...
Putin: US Policies Will Backfire, Russia to Expand Relations With Countries in Eurasia, Africa, Latin America
29.4.2023
Russia’s president, Vladimir Putin, has slammed the actions of the elites in the U.S. and Europe, stating that they do not always act in the best interest of their own people. “It will backfire on them,” he said. Putin also called for a cohesive response to the West’s economic aggression...
South African Mirror Trading's CEO Fined $3.4B by U.S. in Bitcoin Forex Fraud Case
28.4.2023
The founder of bitcoin pool operator MTI was charged with fraud last year for running an unlicensed commodity pool scheme
BRICS Currencies to Have No Alternative, Former Russian President Medvedev Says
27.4.2023
Fiat currencies of BRICS member states will have no alternative in the future, according to former President of Russia Dmitry Medvedev. Nations in the bloc need to think about their digital forms and a digital currency issued by the group as a whole, the Russian politician said. Ruble, Yuan, Other...
BRICS ‘Getting Applications to Join Every Day,’ Attracts 19 Requests Before Summit
25.4.2023
Over two dozen nations have applied for BRICS membership ahead of its upcoming annual summit, the representative of the hosting nation revealed in an interview. The organization which unites leading emerging economies will discuss its enlargement in early June. BRICS to Talk Expansion as Number...
Ugandan High Court Rules to Uphold Central Bank’s Crypto Prohibition
25.4.2023
A Judge of a High Court in Uganda recently dismissed an application which sought to quash a Bank of Uganda directive that barred licensed entities and individuals from facilitating crypto transactions. In his ruling, Justice Musa Ssekaana insisted that the central bank’s crypto prohibition...
Report: Zimbabwe’s Central Bank Says Upcoming Gold-Backed Digital Currency to Help Reduce Demand for US Dollar
25.4.2023
The governor of the Zimbabwean central bank, John Mangudya, recently revealed that his institution is planning to introduce a gold-backed digital currency. According to the governor, the soon-to-be-introduced gold-backed digital currency is expected to help diminish local residents’ demand...
Zimbabwe's central bank to issue gold-backed digital currency: Report
23.4.2023
The Reserve Bank of Zimbabwe plans to introduce a gold-backed digital currency as legal tender in a bid to stabilize its local currency