The legal team representing Tigran Gambaryan, a top executive at Binance, voiced concerns over his prolonged detention at the Kuje correctional centre despite pending bail proceedings before the Federal High Court, Abuja. Mark Mordi SAN, Gambaryan’s lawyer, expressed dismay over his client’s continued incarceration, emphasising the unfairness of the situation during a recent court session […]

In a remote region of Kenya, near Hell’s Gate National Park, a group of Bitcoin miners has found an innovative way to power their operations and bring electricity to rural homes.  They have set up shop at the site of an extinct volcano, utilising a mobile container equipped with solar power and energy from a […]

The Financial Sector Conduct Authority (FSCA) has released a comprehensive list of all 75 licences issued to crypto asset service providers (Casps) in light of claims by certain institutions that they are the ‘first’ or ‘only’ ones to receive their licences.  The FSCA clarified that it has approved 75 institutions to be licensed as casinos […]

Following his weekend arrest in Kenya, Kenyan authorities are preparing to deport Nadeem Anjarwalla, a Binance executive the Nigerian government wanted. Anjarwalla, Binance Africa’s regional manager, faces charges related to tax evasion and the use of illegal passports. A joint operation involving the EFCC, Nigeria Police Force, Kenya Police Service, FBI, and INTERPOL led to […]

The Chinese Embassy has cautioned Chinese Bitcoin miners in Angola following the official ban on crypto mining in the Southern African country.  Earlier this year, the Angolan parliament passed legislation criminalising cryptocurrency mining and related virtual assets to safeguard national energy security. The ban, effective on April 10, prompted the Chinese embassy to warn its nationals […]

In a significant development for South Africa’s crypto industry, the Financial Sector Conduct Authority (FSCA) has commenced the issuance of licences to up to Luno and 59 other crypto companies.  Among the pioneering batch of licensed entities stand prominent names like Luno and Zignaly, marking a pivotal moment in the sector’s regulatory journey. The FSCA’s […]

The Economic and Financial Crimes Commission (EFCC) is gearing up for a significant legal showdown as it prepares to formally charge Tigran Gambaryan and Nadeem Anjarwalla, two high-ranking officials of Binance, one of the world’s largest cryptocurrency trading platforms. This impending legal action stems from allegations of money laundering, totalling over $35.4 million, a staggering […]

APEX, a leading player in Africa’s financial landscape, has unveiled a bespoke service aimed at enhancing the ease, accessibility, and rewards associated with cryptocurrency trading and digital exchange for individuals and businesses across the continent. The company, well-known for its user-friendly digital exchange platform, prides itself on delivering a seamless experience for users engaging in […]

Binance founder Changpeng Zhao has witnessed a remarkable surge in his net worth, climbing to nearly $50 billion with gains of $8.42 billion. This surge has propelled his year-to-date gains by $13.9 billion. Binance’s Influence on Zhao’s Fortune Zhao’s wealth spike is intricately linked to Binance’s performance, with the company’s share price rising from $549.19 […]

Binance, the global cryptocurrency exchange, is endeavouring to mend its relationship with Nigerian authorities in light of recent regulatory strains.  In a statement released on Thursday, Binance reaffirmed its commitment to compliance and collaboration with Nigerian regulatory bodies. Extensive Cooperation with Nigerian Authorities Highlighting its proactive engagement, Binance disclosed its robust cooperation with Nigerian law […]

A Federal High Court in Abuja has ruled in favour of the Economic and Financial Crimes Commission (EFCC), ordering Binance Holdings Limited to furnish comprehensive information regarding Nigerian traders on its platform. The court’s decision, delivered through an ex-parte motion, underscores the intensifying efforts to address concerns surrounding illicit financial activities linked to cryptocurrency exchanges. […]

The Securities and Exchange Commission of Nigeria (SEC) has put forth amendments to the regulations governing platforms offering crypto services, suggesting a significant rise in registration fees for crypto exchanges.  The proposed changes include a substantial increase in filing/application fees and processing fees for digital asset exchanges and custodians. Amendments Aimed at Clarity and Stakeholder […]

The BRICS alliance, comprising Brazil, Russia, India, China, and South Africa, unveils plans to develop an independent payment system fueled by blockchain technology and digital currencies. The plan is part of strides to strengthen financial autonomy and reduce reliance on the US Dollar. This initiative, set to roll out in 2024, aims to revolutionise international […]