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The Blockchain Association of Kenya is calling for new regulations to govern crypto firms in Kenya following the submission of the Virtual Asset Service Provider (VASP) bill to the National Assembly Committee on Finance in February.
The Blockchain Industry Coordinating Committee of Nigeria (BICCoN) has said that the recent actions of the Nigerian government against crypto companies could push transactions made with digital currencies underground
While the Nigerian government might have disabled Binance’s P2P feature, @juwon_adebayo reveals majority of P2P trades are done via WhatsApp and not even Binance.
The news For context, Nigeria is currently in an economic crisis, characterised by inflation approaching 30% with the Naira losing 230% of its value in the last year which has contributed to the economic downturn while Ghana’s inflation rose to 23.5%, with an average of 14.3% over the preceding decade leading up to 2022. Strike,…
The CBN is allegedly planning to shut down all crypto websites in Nigeria. A source close to the matter said the apex bank could use telcos as a way to block Nigerians from visiting cryptocurrency websites.
Kenya is working to enact new laws governing cryptocurrency trading, following concerns that increased cryptocurrency adoption will raise the risk of money laundering and terrorism financing.
Luno and Moore Johannesburg, a South African accounting and auditing firm, have partnered to introduce Luno’s new monthly proof of reserves report to gain customer trust.
One crypto trading firm went from doing $5 million in daily transactions to $10 million in a matter of months following the consistent drop in the value of the naira. Here’s what USDT merchants can say about stablecoin demand.
Between July 2022 and June 2023, Nigeria received over $56 billion in crypto, more than the $20 billion it received in remittances. The increase in crypto use, especially stablecoins, can be attributed to rising inflation. However, further increase in their use could negatively affect the country’s financial system.
The Blockchain Association of Kenya (BAK), a community-born crypto lobby group, has proposed a digital asset bill to help regulate Kenya’s crypto market.
Nigerian crypto company, Patricia, says customers could wait up to five years before getting paid. An email seen by Techpoint Africa also revealed an odd payment requirement for some of the customers who have been paid.
Following Paycorp’s launch of CryptoExpress in November 2023, it has partnered with Triple-A, a digital currency payment company, to allow anyone to withdraw Bitcoin, ether, and stablecoins at about 3,000 ATMs in South Africa.
The launch date for cNGN stablecoin has been postponed till further notice to give the African Stablecoin Consortium time to comply with regulations.
Nigeria’s stablecoin cNGN will go live on February 27, 2024. It will be piloted by the Africa Stablecoin Consortium which says the stablecoin will shorten settlement time, “mirroring the speed of a text message.”
Nigerian crypto exchange, Bitmama has resumed deposits after suspending them earlier this month. Customers can now make naira deposits on the exchange.
Nigerian commercial banks, other financial institutions, and blockchain platforms are reportedly working together to create a stablecoin.
CBN lifts crypto ban. Banks are now allowed to facilitate crypto-related transactions. However, crypto companies that wish to facilitate transactions through banks need to be licenced by the SEC.
Data from Google Trends reveals Nigerians are now more interested stablecoins than bitcoin. After El Salvador and Brazil, Nigeria comes in third in bitcoin interest.
Crypto exchange Bitmama has temporarily suspended deposits on its platform. Users have been reporting deposit delays on the platform since November 25, 2023.
Starting on January 29, 2024, advertisers who offer cryptocurrency coin trusts will be able to advertise their products on Google. This news comes five years after the tech giant banned crypto ads on its platform.