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Exploring the landscape of crypto regulations in sub-Saharan Africa
19.10.2020
Despite facing hot-and-cold rules, growing crypto usage in sub-Saharan Africa is forcing regulators to reconsider the industry
Blockchain Bites: OKEx Freezes Withdrawals, DeFi Audits Queue, Nigeria Urges Crypto Adoption
16.10.2020
OKEx has frozen withdrawals, audit firms are experiencing a backlog of DeFi projects and the Trump administration is examining DLT for national defense
Nigerian Banks Shut Them Out, So These Activists Are Using Bitcoin to Battle Police Brutality
16.10.2020
As End SARS protests against police brutality surge through Nigeria, the Feminist Coalistion has turned to bitcoin as a financial lifeline
Foreign Crypto Exchanges Like Paxful, Binance to Pay 1.5% Tax Under Kenya’s New Regulations
16.10.2020
The Kenya Revenue Authority (KRA) has clarified that its planned digital service tax (DST) will be applicable to cryptocurrencies at a rate of 1.5% on gross transaction value, local media reported. In August, the agency announced new rules for the taxation of what it calls “digital...
Nigeria Is Developing Strategies for National Blockchain Adoption
15.10.2020
Nigerian authorities are developing a roadmap for the adoption of blockchain technology in public administration and payments on a national scale
Nigeria Protest Group Asks for Bitcoin Donations After Regulators Blocks Bank Account
15.10.2020
A Nigerian protest group called Feminist Coalition is asking well-wishers to make donations via bitcoin after authorities reportedly blocked the organization’s bank account. Feminist Coalition is one of the many groups spearheading protests against alleged police brutality by a Nigerian...
Twitter's Jack Dorsey urges Bitcoin donations to fight police brutality in Nigeria
15.10.2020
The CEO of Twitter and Square has urged Bitcoiners to join the fight to end the Special Anti-Robbery Squad (SARS) in Nigeria
Brazen Nigerian Crypto Scam Inksnation Still Operational Three Months After Regulator Warning
20.9.2020
One of Nigeria’s most brazen crypto scams, Inksnation remains operational and still invites new investors some three months after the country’s Securities and Exchange Commission (SEC) deemed its activities illegal. The SEC has previously warned Nigerians against investing with the scam...
Forex Strapped Nigeria Designates Crypto Assets as Securities
15.9.2020
The Securities and Exchange Commission (SEC) of Nigeria has designated crypto assets as securities as the authorities step up efforts to regulate Africa’s largest cryptocurrency market. The SEC says the classification of crypto assets for regulation is consistent with the country’s...
Nigeria’s SEC Says All Crypto Assets Are Securities by Default
15.9.2020
The Securities and Exchange Commission of Africa's most populous country said all crypto assets will fall under the regulation that covers securities exchanges and transactions
Nigeria regulators recognize digital assets in stunning new statement
15.9.2020
‘Virtual crypto assets are securities, unless proven otherwise,’ the Nigerian SEC said
Fiat Devaluation Drives Retail Bitcoin Transfers in Africa 56% in a Year: Report
10.9.2020
Monthly cryptocurrency transfers to and from Africa under $10,000 soared more than 56% from a year ago to reach $316 million in June, according to new research by U.S. crypto analytics firm Chainalysis. Altogether, $8 billion worth of crypto was received into the continent and $8.1 billion sent...
Small value crypto transfers in Africa have increased by 55%
10.9.2020
Africans are turning to cryptocurrencies to avoid high fees and currency instability, with transfers to and from the continent increasing 55% over the last year
Ukraine, Russia, South Africa, Nigeria Among Top Countries by Cryptocurrency Adoption
9.9.2020
Ukraine, Russia, China, South Africa, Nigeria, Kenya, and the U.S. are among the top-ranking countries by cryptocurrency adoption, according to the 2020 Global Crypto Adoption Index compiled by blockchain data analytics firm Chainalysis. Countries With Highest Crypto Adoption Chainalysis’...
Nigeria Foreign Exchange Crisis: Worsening US Dollar Shortages Point to Further Devaluation
2.9.2020
Pressure on Nigeria’s current exchange rate is likely to get worse in 2021, when the expected recovery of imports is set to force another devaluation of the local currency to N430/$ next year, according to two Bank of America analysts. Earlier rate adjustments, one in March and another...
Nigerian Crypto Startup Yellow Card Raises $1.5 Million For Expansion in Africa
31.8.2020
Yellow Card has raised $1.5 million in a seed round. The Nigerian crypto startup said it will use the money to expand its operations in Africa while making it easier for people on the continent to buy and sell digital assets. Investors in the new round include Polychain, venture capital firm...
Dash Nigeria Takes Digital Currency Education Campaign to Regulators and Key Institutions
27.8.2020
With sophisticated fraud schemes seemingly overwhelming the African crypto market, there is a growing need for players in the space to help fight this scourge. Some are responding through increased educational campaigns, which they hope will not only turn the tide against scammers but will also...
Unconfiscatable? Using Bitcoin to Resist Police Extortion in Nigeria
26.8.2020
It's common in Nigeria for police officers to threaten and extort citizens for whatever money they can find. This man uses bitcoin as a hiding spot
P2P Cryptocurrency Exchanges in Africa Pivot: Nigeria and Kenya the Target Markets
25.8.2020
Leading cryptocurrency exchanges are bullish about Africa’s growth prospects as evidenced by their ongoing forays into the continent. During the month of August, Kucoin crypto exchange announced the addition of Nigeria’s naira currency as a payment option on its peer-to-peer platform....
Nigeria’s Foreign Currency Crisis Boon for Bitcoin: Country Tops Wallet Downloads Ahead of the US
21.8.2020
Nigeria’s weakening naira currency, as well as the shortage of U.S. dollars, are forcing businesses to switch to bitcoin as the means of settling payments for international transactions. Nigerian businesses need the American currency to buy new supplies, as well as to order essential...