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Nigeria Invited, Then Detained Binance’s Compliance Head and Africa Manager for Two Weeks: Reports
12.3.2024
Two senior executives of Binance, Tigran Gambaryan and Nadeem Anjarwalla, have been held against their will for the past two weeks by Nigerian authorities
Nigerian Central Bank, Real-World Asset Firm Partner to Revive Struggling CBDC
9.3.2024
Gluwa, a platform for real-world assets, announced on March 7 its partnership with the Central Bank of Nigeria. The partnership arrangement aims to improve the functionality of the Nigerian central bank’s digital currency and promote financial innovation through blockchain technology. Improving...
Egypt Devalues Currency, Raises Interest Rates to Fulfill Key IMF Aid Requirement
8.3.2024
Authorities in Egypt recently allowed the local currency’s exchange rate versus the U.S. dollar to decrease by more than 60%. Additionally, the central bank raised interest rates by 600 basis points. Both steps were key conditions set by the IMF which Egypt had to meet before the approval of a...
Embattled Binance Discontinues Nigerian Naira Services — Users Urged to Convert NGN Balances
8.3.2024
Binance, one of the leading crypto exchanges, has said it will discontinue all Nigerian naira services on March 8. The crypto exchange’s decision to drop trading pairs that feature the naira follows weeks of attacks and an official crackdown on its Nigerian operations. Crypto experts like...
Blockchain Advocacy Group Says Nigerian Government’s Actions Could Drive Crypto Activities Underground
5.3.2024
Nigerian blockchain lobby group has said the government’s decision to block access to crypto trading like Binance, Kraken and Coinbase will not “help Nigeria build the much-needed trust and confidence in the financial system.” The advocacy group also said the Nigerian...
BRICS Will Create Payment System Based on Digital Currencies and Blockchain: Report
5.3.2024
The five-nation BRICS group comprising Brazil, Russia, India, China and South Africa will work on creating a payment system based on blockchain and digital technologies, a report by Russian news agency TASS said
Egyptian Fintech Startup Moneyhash Secures $4.5 Million in Seed Funding Round
4.3.2024
Moneyhash, a digital payments fintech startup, recently secured $4.5 million in a seed funding round. The fintech startup said it will use the capital raised to enhance its technology and fund its regional expansion drive. The Impact of COVID on Payments Moneyhash, an Egyptian fintech startup...
Binance Nigeria Standoff: Crypto Exchange’s Top Executives Summoned by House of Representatives Committee
4.3.2024
Top executives from Binance have been summoned to appear before the Nigerian House of Representatives Financial Crimes Committee no later than March 4. Ginger Onwusibe, the committee’s chairperson, has warned of possible repercussions should Binance executives fail to comply with the request....
Binance Claims Ignorance of $10 Billion Fine Imposed by Nigerian Government
4.3.2024
Binance, a leading cryptocurrency exchange, has denied allegations made by a Nigerian government official that it is facing a $10 billion fine. While Binance maintains its commitment to fostering a positive relationship with the Nigerian government, it firmly states that it will not succumb...
The Nigerian Government and Binance: The Way Forward — CMO of Flincap
3.3.2024
The promise of the blockchain and cryptocurrency still remains strong. Globally, there continues to be growing interest in the blockchain and peer-to-peer exchanges. We are seeing the institutional adoption of crypto and a rise in interest in retail adoption, too. We have seen the example in...
Report: Nigerian Government Imposes $10 Billion Fine on Binance
2.3.2024
The Nigerian government has reportedly slapped the cryptocurrency exchange Binance with a $10 billion fine. According to a Nigerian government official, Binance is being punished for causing the local currency’s recent plunge against major currencies. Binance’s Alleged Influence on...
Nigerian Presidential Adviser Assails Binance, Calls for Measures Against the Crypto Exchange
2.3.2024
Bayo Onanuga, a special adviser to the Nigerian president, has leveled accusations against Binance, blaming it for exacerbating the local currency’s depreciation against major currencies. Onanuga called for immediate action against Binance, warning that its activities could potentially undermine...
Global BTC Trading App Strike Launches ‘First Fully-Featured Region Outside the US’
29.2.2024
The fiat and bitcoin payments app, Strike, has launched its “first fully-featured region outside the U.S.” According to Jack Mallers, the founder and CEO of Strike, the African continent presents “immense opportunities for financial innovation and economic freedom.” High...
Nigeria Detains Two Binance Executives, Crypto Platform Accused of Exchange Rate Manipulation
28.2.2024
Nigerian authorities have reportedly detained two senior executives from Binance who had recently arrived in the country. The Central Bank of Nigeria’s governor stated that in 2023 alone, $26 billion flowed through the cryptocurrency exchange from sources and users that the bank could...
Bitcoin-Focused Payments App Strike Rolls Out Services to Africa
27.2.2024
Bitcoin-focused payments firm Strike is expanding its services to African countries including Nigeria, South Africa and Zambia, the company announced in a blog post Tuesday
South Africa Regulators to Unveil Document Categorizing Stablecoins as a ‘Particular Type of Crypto Asset’
26.2.2024
In 2024, the Intergovernmental Fintech Working Group, a consortium of South African regulators that unveiled a position paper on crypto assets in 2021, is expected to “publish additions to include stablecoins as a particular type of crypto asset.” The consortium is also considering...
Coinbase CEO Says No Access Block in Nigeria, Platform Operating Normally
24.2.2024
Coinbase CEO Brian Armstrong has dismissed reports of his cryptocurrency exchange being blocked by Nigerian authorities. He emphasized that Coinbase products are fully operational in Nigeria without any interruptions. “We have not received any outreach or communication from officials...
FATF Grey Listing Concern Prompts Kenya to Establish a Crypto Working Group
23.2.2024
The fears that Kenya’s lack of a regulatory framework for overseeing the crypto industry has prompted the government to establish a working group tasked with drafting crypto regulations. Authorities in the East African nation are confident that the approved regulations will designate a sole...
South Africa’s Budget Review Signals Embrace of Digital Payments and Crypto Assets
22.2.2024
South Africa has unveiled its 2024 budget, leveraging stablecoins and blockchain technology to promote financial inclusion and act as a critical driver for enhancing digital payments nationwide.
The post South Africa’s Budget Review Signals Embrace of Digital Payments and Crypto Assets...
South Africa to Start Work on Stablecoin Regime, Will Start by Considering Use Cases
22.2.2024
The Intergovernmental Fintech Working Group is also considering the impact of tokenization on domestic markets