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Report: Nigerian Finance Bill Has Provisions Allowing Govt to Tax Crypto Transactions
5.12.2022
A Nigerian finance bill, which seeks to amend the country’s various tax statutes, contains provisions which allow the government to tax cryptocurrency and other digital asset transactions, a report has said. Nigeria is reportedly seeking to join six other countries, including two from Africa...
AAX clients storm exchange's office in Lagos following operational halt
4.12.2022
A group of angry users attacked crypto exchange employees after withdrawals were halted, according to local media
South Africa Adds Crypto Businesses to List of Accountable Institutions
30.11.2022
Crypto exchange and custody businesses are among entities that will have to identify and keep records for new and existing clients
RegTech Africa Conference set to elevate national policy on financial inclusion, consumer protection, and cybersecurity
28.11.2022
Digital financial services hold great promise as a means to enable financial inclusion and thus help improve people’s lives. However, cybercrime has become a key concern in developing and emerging markets and threatens to hinder global advances in building a more inclusive digital society. Whilst...
International Monetary Fund Calls For Increased Regulation of African Crypto Markets, Says ‘Risks From Crypto Assets are Evident’
25.11.2022
The International Monetary Fund (IMF) has called on African countries to opt for more crypto regulations citing the recent collapse of cryptocurrency exchange FTX.
In a November 22 blog, the financial agency, which works to achieve sustainable growth and prosperity for all of its 190 member...
Report: Luno Africa Says Customers and Operations Not Affected by Turmoil at Genesis Capital
25.11.2022
Just days after reassuring concerned customers, Marius Reitz, the general manager of crypto exchange Luno Africa, recently reiterated the company has not been impacted by Genesis Capital’s decision to pause withdrawals. He added Luno customers still have access to funds in the savings wallet...
IMF calls for tighter crypto regulation in Africa as the industry unfolds
24.11.2022
FTX's collapse is one of the reasons why countries in the region should adopt regulation, noted the monetary fund
BIS report finds uneven progress, differing motivations in African CBDC adoption
24.11.2022
A survey of the continent’s central banks shows optimism about greater efficiency and inclusion, but several drawbacks remain; Nigeria already has an operational retail CBDC
IMF Blog: Better Regulation of Africa’s Growing Crypto Market Urgently Needed
24.11.2022
A well-regulated African cryptocurrency market is needed in order to protect users as well as help countries stop bad actors from using digital assets to circumvent capital controls, the latest post on the IMF blog has said. The blog post reiterated the IMF’s belief that risks to a country...
Kenyan legislation establishes crypto taxation, creates consumer protections
21.11.2022
The country’s first effort at crypto regulation amends the country’s Capital Markets Law to define crypto as a security and establish reporting, tax and other requirements
These Countries Were Hit The Hardest By the FTX Collapse – Find Out Why
21.11.2022
South Korea, Singapore, and Japan are the three countries most impacted by crypto exchange FTX's infamous implosion, with a combined 15.7% traffic share to FTX.com, said a report by Coingecko.
The methodology of the study, as explained by Julia Ng, who leads Growth Marketing & PR at CoinGecko...
Ripple Partners With Africa-Focused Remittances and Payments Firm MSF Africa
18.11.2022
Ripple, the United States-based tech firm, has said its crypto solution known as “on-demand liquidity” is set to help MSF Africa “streamline real-time mobile payments for customers in 35 countries.” The evolution of Ripple’s partnership with MSF Africa, which has...
News Summary: Bitvo Backs Off FTX Acquisition Deal, Trust Wallet Integrates with Binance Pay, New Ethereum Climate Platform
17.11.2022
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________...
Read More: News Summary: Bitvo Backs Off FTX Acquisition Deal, Trust Wallet Integrates with Binance Pay, New Ethereum Climate Platform
Nigerian Web3 Startup Says Funds Are Stuck With FTX, Lays Off Employees
17.11.2022
Nestcoin, a Nigerian Web3 startup which got an investment from Alameda Research in 2021, revealed on Nov. 14 that it had “a significant proportion of stablecoin investment” stuck at FTX. According to the startup’s CEO, laying off some employees allows the company to focus...
FTX Collapse: African Crypto Industry Leaders’ Perspective and Advice to Regulators
16.11.2022
The collapse of FTX and subsequent calls for tougher regulation by the likes of U.S. Senator Elizabeth Warren have increased the likelihood of regulators adopting even stricter crypto laws. In Africa, crypto industry participants warn of the unintended consequences arising from rushed...
How to build a Bitcoin Beach: Advice from the pros
13.11.2022
Founders of Bitcoin Beach El Salavdor, Bitcoin Ekasi in South africa, Dakar Bitcoin Days in Senegal and Global Bitcoin Fest shed light on building Bitcoin communities around the world
FTX Collapse: Africa-Focused Payments Firm AZA Finance Slams ‘Erroneous Inclusion’ in FTX Bankruptcy Filing
13.11.2022
The founder and CEO of an Africa-focused payments firm, Elizabeth Rossiello, claimed on Nov. 11 that the beleaguered crypto exchange FTX had incorrectly included AZ Finance in its chapter 11 bankruptcy protection filing. The CEO insisted that her firm does not hold customer funds and is presently...
LBank Labs Establishes Blockchain and Crypto Investment Fund to Support the Development of Web3 in Africa
12.11.2022
PRESS RELEASE. Internet City, Dubai, Nov. 11th, 2022 — Blockchain Crypto Investment Group, LBank Labs, announces the establishment of their new crypto investment fund targeted towards web3 development in Africa. LBank Labs plans to establish a series of regional development funds, including...
Zimbabwean Central Bank Launches CBDC Consumer Survey
11.11.2022
The Zimbabwean central bank has said it is “conducting a CBDC [central bank digital currency] Consumer Survey to solicit opinions on the design and nature of the CBDC and its overall acceptance by the public.” The bank said the information obtained via this process will...
Nigerian Currency Gains Versus US Dollar Days After Tapping All-Time Low
10.11.2022
Just a few days after plummeting to its worst exchange rate against the U.S. dollar ever, the Nigerian currency was trading at around 820 units for every dollar on Nov. 8, a report has said. An economist has suggested that the Central Bank of Nigeria’s controversial currency plan is unlikely...