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Study: 7.6 Million South Africans Are Crypto Investors, Social Media Main Source of Crypto-Related Information
17.6.2022
About 22% of South Africa’s adult population, or 7.6 million people, are cryptocurrency investors, findings by a study done by Kucoin cryptocurrency exchange have shown. According to the study, 72% of the respondents said they get information concerning particular crypto projects via social...
Report: Kenyan and Nigerian Central Bankers Attack Cryptocurrencies but Endorse CBDCs
13.6.2022
Cryptocurrencies are very unstable for them to become a widely used method of payment, the Nigerian and Kenyan central bankers have reportedly said. In addition, the bankers claim that cryptocurrencies also pose a risk to financial stability. Narrowing the Financial Exclusion Gap The Nigerian...
Old Fashion Research Launches $100 Million Latam and Emerging Markets Crypto Metaverse Fund
31.5.2022
A VC company founded by former Binance employees, Old Fashion Research, has announced the launch of a new crypto fund in the midst of the current downturn the market is facing. The fund, which will have $100 million at its disposal, will focus resources on metaverse investments and in carrying...
Former Binance Execs Create $100M Fund to Spur Crypto Adoption in Emerging Markets: Report
26.5.2022
A group of former executives of cryptocurrency exchange Binance have created a $100 million venture fund with a focus on the metaverse and bringing greater crypto adoption to Latin America and Africa
Report: Cryptocurrency Can Potentially Complement Mobile Money Argues Kenyan Banker
21.5.2022
The CEO of one of Kenya’s biggest lenders has argued there is a possibility cryptocurrencies will complement mobile money in Africa but first, there is a need to convince regulators of their benefits. African Regulators’ Stance on Crypto Cryptocurrencies can potentially complement...
Report: Pakistan Can Generate $90 Million Annually if It Introduces a 15% Tax on Crypto Transactions
20.5.2022
Pakistan can generate tax revenues of at least $90 million each year if authorities impose a 15% tax on cryptocurrency transactions, an executive with a cryptocurrency exchange has said. 15% Crypto Tax An executive with a Pakistani cryptocurrency exchange has said Islamabad can generate at least...
Report: Tanzania Closer to Launching a CBDC
12.5.2022
Tanzania is getting closer to launching a central bank digital currency (CBDC) which gives the country’s residents a “safe alternative,” the central bank governor has said. However, no date for the digital currency launch has been given. Growing Interest in Cryptocurrencies...
Report: Nigerian Crypto Restrictions and Twitter Ban Have ‘Crippled Foreign Direct Investment in the Fintech Industry’
10.5.2022
A new report has concluded that restrictions on cryptocurrency trading, as well as the banning of Twitter by Nigerian authorities, may have “crippled foreign direct investment in the fintech industry.” Foreign Direct Investment ‘Crippled’ A new report has found that...
Venezuela Bets on De-Dollarization After Foreign Currency and Crypto Tax Is Applied
9.5.2022
The government of Venezuela is now focusing its action on trying to establish the bolivar as the go-to currency for purchases in the country. According to several economists, this might be a risky bet in a country that has just exited hyperinflation and still suffers high levels of inflation....
Survey: Almost Three out of Four Argentinians Are Willing to Purchase Crypto for Investing or Saving Purposes
7.5.2022
A new survey, whose results were released earlier this week, has given more insight into how Argentinians view cryptocurrencies and how they might put them to use. The survey found out that eventually, almost three out of four citizens would purchase cryptocurrency to invest, or as a way...
Uganda Central Bank Tells Licensed Entities to Stop Facilitating Crypto Transactions
4.5.2022
The Ugandan central bank has warned licensed entities and the public against facilitating crypto-related transactions as well as the practice of converting cryptocurrency into mobile money and vice versa. The central bank warned it will not hesitate to act against entities found to be in breach...
Nigerian Agencies Told to Stop ‘Demonizing’ Crypto Industry Players
20.4.2022
Nigerian public and law enforcement agencies have been urged to “stop the demonization” of the blockchain and cryptocurrency industry. According to an association that advocates for the risk-based regulation of the crypto industry, financial institutions should not use a Nigerian...
Three African Countries Plan to Adopt Cryptocurrency and Blockchain Solutions
16.4.2022
Three African countries — namely Cameroon, the Democratic Republic of Congo (DRC), and the Republic of Congo — are reportedly planning to adopt cryptocurrency and blockchain solutions powered by The Open Network (TON). Separately, Cameroon is considering issuing a national stablecoin...
Crypto and Blockchain Firms Constitute 16% of UAE Free Zone’s Record Q1 Company Registrations
16.4.2022
Crypto and blockchain firms constituted 16% of the 655 new company registrations that were recorded in Q1 of 2022, the Dubai Multi Commodities Centre (DMCC) has said. The surge in crypto-related registrations also coincided with a quarterly period in which the DMCC is reported to have recorded...
Study: 54% of UAE and Saudi Arabia Survey Respondents Said Crypto Should Be Used for Payments
12.4.2022
An average of 54% of survey respondents from Saudi Arabia and the United Arab Emirates (UAE) said they believe cryptocurrency should be used as currency. Still, a significant proportion of the respective countries’ respondents believe certain obstacles are stopping cryptocurrencies from...
Study Finds 33.4 Million Nigerian Adults Hold or Have Traded Crypto in Last 6 Months
12.4.2022
According to a new report, approximately 33.4 million Nigerians, or 35% of the country’s adult population, are holders of cryptocurrencies or have traded them in the past six months. The report attributes the growing adoption of cryptocurrencies to rising inflation and the plunging value...
Ghana Central Bank Reiterates Warning Against Practice of Pricing Goods in Forex
12.4.2022
The Bank of Ghana has warned businesses and the public against the practice of demanding or making payments in foreign currency without its authorization. The central bank’s warning comes just over a month after Ghana’s currency was rated the worst performing among Africa’s...
Namibian Central Bank Announces Plan to Launch CBDC
9.4.2022
Johannes Gawaxab, the governor of the Bank of Namibia (BON), has said his organization is planning to launch a central bank digital currency (CBDC). The governor, however, warns the launch might have implications for financial stability. BON Researching CBDCs The BON governor, Johannes Gawaxab...
Kenya Central Bank Governor: Low Smartphone Penetration Working Against Plan to Launch CBDC
2.4.2022
According to Patrick Njoroge, the governor of the Kenyan central bank, the significant number of non-smartphones that are in use in Kenya means launching a central bank digital currency (CBDC) now may be premature and could lead to many citizens being financially excluded. Central Bank Mulls...
IMF: We Need a Lot More Work Done on Crypto Regulation
31.3.2022
The International Monetary Fund (IMF) says a lot more work needs to be done on crypto regulation. “We’ve certainly seen an increase in the use of cryptocurrencies before this war, and we’ve seen it happen more in emerging markets than in others,” said the deputy managing...