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25% of South Africans Own Cryptocurrency With Average Value of Assets Held Below $70
15.9.2021
According to the findings of a study by KLA, a market research and data specialist firm, some 47% of South African adults are holders of cryptocurrency, with the majority of this number holding low-value investments. In addition, the study shows that 36% plan to invest in crypto in the future....
Africa’s crypto market has grown by more than 1,200% since 2020: Chainalysis
14.9.2021
P2P platforms, the need for remittances to circumvent restrictions from banks, and putting savings into crypto as a means of avoiding inflation could have contributed to the growing market in Africa
South African Exchange Sets New Crypto Withdrawal Limits — Restrictions ‘a Deterrent for Illicit Actors’
9.9.2021
One of South Africa’s biggest cryptocurrency exchanges, Luno, has confirmed that it has started restricting withdrawals by clients. The exchange insists the limits are meant to “act as a deterrent for illicit actors moving large amounts of funds within the crypto ecosystem.”...
Project Giant: Nigeria’s CBDC set for pilot rollout on Independence Day
7.9.2021
Nigeria’s central bank digital currency will go into pilot testing on Oct. 1 with a tiered AML/KYC regime for the eNaira
Singapore, South Africa Latest Countries to Warn Against Crypto Exchange Binance
4.9.2021
The list of regulators warning that Binance is illegally operating in their jurisdictions continues to grow. The authorities in Singapore and South Africa have become the latest to warn that the global cryptocurrency exchange may be in breach of their local laws. South Africa’s Financial...
Binance pushes back against warning from South Africa regulator
3.9.2021
Though the FSCA is an agency of the South African government, Binance claimed the country’s Financial Intelligence Centre was the “major regulator” with which it had been working to be in compliance with local laws
Kaspersky ranks cryptojackers among top malware threats in Africa
3.9.2021
Some of the most common methods of duping crypto investors include false advertisements claiming to sell mining equipment and fake websites posing as crypto exchanges
Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency Payments
3.9.2021
The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments. The trial, led by the Bank for International Settlements, aims to establish whether they can simplify transactions and make...
South Africa's financial regulator issues warning against Binance
3.9.2021
South African authorities are the latest to warn against using Binance, saying the exchange is not authorized to operate in the country
Eastern Europe Sends Over $800 Million in Crypto to Scams in Single Year, Report Reveals
2.9.2021
Of all funds sent to illicit cryptocurrency addresses from Eastern Europe, scams attract the greatest amount, according to a new report. In the past year alone, crypto addresses based in the region have sent the fraudulent schemes a staggering $815 million in crypto. Eastern Europe Leads by Volume...
Australia, Singapore, Malaysia and South Africa launch joint CBDC pilot
2.9.2021
The joint initiative will prototype shared DLT platforms enabling institutions to settle cross-border transactions using central bank-issued digital currencies
IEEE Europe to Host Blockchain Seminar With Africa Blockchain Local Groups
1.9.2021
A special virtual event on open ledger technology is being organized by IEEE Europe and Africa Blockchain Local Groups to increase awareness about blockchains. The event is scheduled for September 8, 2021, between 3-7 pm CET. The registration process for the same is open now. Several seasoned...
Crypto does not qualify as currency, says South Africa's central bank governor
31.8.2021
South Africa’s top banker has said crypto are more akin to assets than actual currencies
Nixon’s Decision to Delink the Dollar From Gold Still Hounds the IMF and Africa
22.8.2021
US President Richard Nixon’s decision to end the US promise to convert dollars into gold changed the global financial system. Getty Images
Danny Bradlow, SARCHI Professor of International Development Law and African Economic Relations, University of Pretoria.
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Five decades ago this month,...
Polygon Enters Into Africa With Quidax. Quidax to Launch Self-Service Listing, Celebrates 3 Years
17.8.2021
PRESS RELEASE. Lagos – African-founded cryptocurrency exchange, Quidax is integrating with Polygon. Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Quidax’s integration with Polygon is Polygon’s first in Africa...
Ghana's digital cedi must emulate cryptocurrencies, Afroblock states
17.8.2021
Afroblocks co-founder urges Ghana's central bank to involve the in-house crypto experience and expertise to help e-cedi succeed
Global Charity Organization Launches Crypto-Based Vouchers for Vulnerable Groups in Kenya, Ecuador
14.8.2021
The global charity organization, CARE, has created crypto-based vouchers that will be distributed to women and select groups in Africa and Latin America. According to CARE, these vouchers will be redeemable for goods, services or cash and linked to the needs of recipients. However, in its statement...
XTB Africa Granted License To Work In South Africa
13.8.2021
On August 10th, 2021, XTB Africa Pty Ltd declared that they had been approved for a license from the FSCA, i.e., the Financial Sector Conduct Authority, to begin operations in South Africa. XTB executives claim that this license is part of their growth strategy of global expansion. XTB is...
South African Expert Says Tax-Dodging Crypto Traders Face Heightened Jail Threat
13.8.2021
A South African tax expert, Thomas Lobban, has warned non-tax paying crypto traders that they now face possible jail time if the South African Revenue Services (SARS) decides to lay tax offense charges against them. He adds that this threat of jail time similarly applies to South African crypto...
Using a Crypto Loan App to Bring Financial Services to Excluded Groups in Africa
9.8.2021
In much of Africa, many people still lack access to basic financial services for many reasons. One of the reasons is that financial institutions have set standards or thresholds that make it impossible for low-income earners to even open a bank account. Access to soft loans or other forms...