The advent of Bitcoin and other cryptocurrencies has ushered in a transformative era in the global financial landscape. Initially conceived as a decentralized digital currency, Bitcoin has grown to influence a wide array of sectors, including finance, technology, and regulation. This article explores how Bitcoin is reshaping global financial regulation, the challenges it presents, and…
By the end of the month, South Africa will license roughly sixty cryptocurrency platforms, making it one of the first countries on the continent to mandate operating permissions for digital asset exchanges. More than 300 crypto-asset providers requested authorization, according to the Financial Sector Conduct Authority, which offered exchanges until November 30 to apply for…
The Central Bank of Nigeria (CBN), which published legislation to regulate the activities of digital asset providers many months ago, has instructed its telecom carriers to restrict access to websites related to cryptocurrencies, including well-known sites like Binance, OctaFX, and Coinbase. This action is a reaction to the CBN’s December 2023 decision to revoke its…
According to Mrs. Zainab Ahmed, Minister of Finance, Budget, and National Planning of Nigeria, the 2022 Finance Bill contains a provision to tax cryptocurrencies and other digital assets. In an unusual digital event on Thursday, Zainab Ahmed updated the National Economic Council (NEC) on the fundamental elements of the 2022 Finance Bill, according to a…
Meta Pay is rumored to be a cryptocurrency-friendly payment platform from Meta. The parent company of social media behemoths Facebook and Instagram has submitted five patent applications with the US Patent and Trademark Office (USPTO). Meta is looking for licenses to operate as a “online social networking service for investors that allows financial trades and…
Two years after abandoning its blockchain endeavor, The Open Network (TON) foundation has announced that users would be able to send crypto payments on Telegram. Telegram’s cryptocurrency operation was shut down when the Securities and Exchange Commission of the United States put too much pressure on the company, according to The Verge (SEC). Telegram now…
“Binance,” one of the world’s largest cryptocurrency exchanges,” is reportedly investing $200 million in the company as it prepares to go public via a special purpose acquisition company, according to Forbes (SPAC). Binance’s investment will replace half of the $400 million in private placement commitments made by Forbes and Magnum Opus Acquisition Limited, the world’s…
Globally, cryptocurrency industry funding has been increasing rapidly in recent years. Crypto startups raised more than $27 billion in venture capital last year alone, which is slightly more than the previous ten years combined. Moreover, despite a drop in the price of cryptocurrencies, American venture capital firm Andreessen Horowitz’s crypto arm launched a $2.2 billion…
According to the CEO of a game-changing global financial giant, Bitcoin will be legal tender in three more countries by 2022. Nigel Green of deVere Group, one of the world’s largest independent financial advisory, asset management, and fintech organizations, doubled down on a prediction made by El Salvador’s President on Sunday. Nayib Bukele tweeted a…
Non-fungible tokens (NFTs) have created quite a stir throughout 2021, quickly transitioning from something obscure and nerdy to one of the most desired items of digital consumerism, with global searches for the term “NFT” appearing to have surpassed those for “Crypto” for the first time, according to Google Trends. While the crypto market has seen…
Prince Clem Akanade Agba, Nigeria’s minister of state for budget and national planning, has called for the establishment of a new regulatory body to oversee the regulation of crypto activities in the country. The minister stated this at the recently held Crypto Coinference, which was organized by the tech media organization Technext. According to him,…
African central banks are looking to learn from Nigeria’s turbulent but historic launch of the continent’s first state-backed digital currency, eNaira. Tanzania announced last week that it intends to launch its own digital currency in order to reduce transaction costs and increase citizen participation in the formal financial system. In September, the South African central…
The Blockchain Industry Coordinating Committee of Nigeria (BICCoN) has questioned the Central Bank of Nigeria’s recent actions in imposing a new ban on user accounts linked to crypto-related activity. In a news release, the blockchain collaborative body criticized the Central Bank of Nigeria’s recent “overreach.” Remember that the CBN ordered banks to stop processing cryptocurrency-related…
The Central Bank of Nigeria, CBN, earlier in February, outlawed crypto trading and prohibited banks and other financial institutions from facilitating related payments. This prohibition comes several months after the Apex bank initially warned Nigerians about the dangers of dealing in cryptocurrencies, stating that they were not legal tender and that investors were unprotected. In the…
Bitcoin grabbed all the headlines in the crypto world last week marking a new all-time high but ended the week with the slump. But the surge in investor excitement doesn’t seem to have faded just yet. The world’s most popular cryptocurrency opened Monday’s trade at Rs. 47,36,579 (roughly $63,236) rising by 1.41 percent over the…
African blockchain company Bitmama has closed a $350,000 pre-Seed round, led by Flori Ventures, with participation from Nigeria-based investment fund Emergence Capital, Fedha Capital, and a host of VCs and angel investors. The Bitmama pre-seed round will be used to grow its operational presence, expand its team, and penetrate new markets across the continent, while rapidly scaling crypto and payment…
Payments company Stripe announced it’s building out a new crypto team to help build out the “future of Web3 payments,” according to public statements posted to Twitter on Tuesday. Stripe, which had once been among the first to support Bitcoin payments before leaving the market a few years ago, has been watching for the right time to get back…
Cryptocurrency buying and selling platform Luno has conducted a survey of over 1000 of its customers in South Africa in August 2021, along with customers in the UK, Malaysia and Indonesia. Luno found that 82% of South Africans who hold cryptocurrency on its platform expect the bitcoin price to rise significantly, some believe as high as…
South African Property Firm First to Accept Crypto for Rental Deposits Written by Luis Monzon Quorum Holdings, an affordable residential and student housing specialist is the first property firm in South Africa to accept rental deposits in cryptocurrency tokens and to allow prospective tenants to potentially benefit from an increase in value. While rental deposits…
Kenyans lead the world in peer to peer crypto trade Written By Conrad Onyango Kenyans are trading cryptocurrencies directly with each other (“peer to peer transactions” or P2P) more than elsewhere in the world. Residents of other African countries are also jumping at the opportunity to cushion remittances and cross-border businesses from costly transfer fees and…
Crypto-currency adoption in Africa: The ups and downs Challenges include a lack of reliable internet and a lack of financial literacy. Written by Eugene Yiga Africa is booming in terms of cryptocurrency adoption, according to the 2020 Geography of Cryptocurrency Report by Chainalysis – a blockchain analysis company that provides data, software, services, and research…
Eight African fintech startups have been selected to participate in the latest edition of the GreenHouse Lab accelerator, securing access to funding and mentorship. Written by TOM JACKSON GreenHouse Lab is the flagship accelerator programme run by GreenHouse Capital, a Lagos-based fintech investment fund and platform focused on supporting early-stage companies and world-class emerging market entrepreneurs…
Black farmers in the US’s South— faced with continued failure their efforts to run successful farms their launched a lawsuit claiming that “white racism” is to blame for their inability to the produce crop yields and on equivalent to that switched seeds. Black farmers in the US’s South faced with continued failure in their efforts to run…
Black farmers in the US’s South— faced with continued failure their efforts to run successful farms their launched a lawsuit claiming that “white racism” is to blame for their inability to the produce crop yields and on equivalent to that switched seeds. Black farmers in the US’s South faced with continued failure in their efforts to run…
Black farmers in the US’s South— faced with continued failure their efforts to run successful farms their launched a lawsuit claiming that “white racism” is to blame for their inability to the produce crop yields and on equivalent to that switched seeds. Black farmers in the US’s South faced with continued failure in their efforts to run…
Black farmers in the US’s South— faced with continued failure their efforts to run successful farms their launched a lawsuit claiming that “white racism” is to blame for their inability to the produce crop yields and on equivalent to that switched seeds. Black farmers in the US’s South faced with continued failure in their efforts to run…