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Cryptocurrency

Highlights

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South Africa Issues Crypto licences to Luno, 59 others

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BRICS plans Independent payment system using Blockchain

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 […]

Ibukunoluwa Josephine Bankole
16

Yande Nomvete leads charge for financial access through cryptocurrency

In Africa, the nexus of health, economic disparities, and overall well-being underscores the urgent need for transformative solutions.  Recognizing the pivotal role of financial services in driving change, the International Monetary Fund highlights the potential of financial inclusion to uplift families, catalyse business growth, and bridge the gap between economic aspirations and tangible progress. Read […]

Ibukunoluwa Josephine Bankole
16

Binance traders not anonymous, says crypto investigator

The Binance exchange is a leading cryptocurrency exchange founded in 2017, featuring a strong focus on altcoin trading. It offers crypto-to-crypto trading in more than 350 cryptocurrencies and virtual tokens, including bitcoin, ether, litecoin, dogecoin, and its own coin, BNB. CBN’s claim on $26bn suspicious flows through Binance Governor of the Central Bank of Nigeria, […]

Ibukunoluwa Josephine Bankole
16

Binance halts Naira services amid crackdown in Nigeria

Cryptocurrency giant Binance has announced the cessation of services related to the Nigerian naira (NGN) on its platform, citing regulatory pressure and accusations of currency manipulation. The move came after Nigerian authorities detained two Binance officials and imposed a hefty fine on the exchange. Service Disruption and Balance Conversions Effective 8:00 UTC on March 8, […]

Ibukunoluwa Josephine Bankole
16

Tesla, Amazon embrace Pi Network as payment method

Pi Network, a rising crypto platform, has achieved a major breakthrough by securing official recognition as a payment method by two industry titans, Tesla and Amazon.  This development signifies a pivotal moment for the cryptocurrency sector, which has historically been perceived as experimental and volatile. Pi Network: A Brief Overview Pi Network, established in 2019 […]

Ibukunoluwa Josephine Bankole
16

Nigeria denies $10 billion Binance fine

The Special Adviser to Nigerian President Bola Ahmed Tinubu on information and strategy, Mr Bayo Onanuga, has clarified statements regarding a purported $10 billion fine on the crypto exchange platform, Binance.  Reports circulating, particularly by the BBC on Friday, suggested that Binance faced a hefty penalty, but Onanuga insists that his words were misrepresented. He […]

Ibukunoluwa Josephine Bankole
16

SA’s FWG to expand Crypto asset classification

The Intergovernmental Fintech Working Group (IFWG) in South Africa is poised to publish an updated position paper that will categorise stablecoins as a distinct form of crypto asset.  This development follows the IFWG’s initial 2021 position paper, which proposed 25 recommendations for regulating crypto assets in South Africa. Stablecoin Use Cases Under Scrutiny In addition […]

Ibukunoluwa Josephine Bankole
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Floww Financial enters African crypto market with Nigeria launch

Floww Financial has made its foray into the African cryptocurrency market with the launch of its operations in Nigeria.  The company now offers fiat-to-crypto and crypto-to-fiat services on leading exchanges, including Binance, where it operates as a peer-to-peer merchant. Local Talent Empowerment and Expansion Daryl Teo, the Chief Investment Officer and Founder of Floww Financial […]

Ibukunoluwa Josephine Bankole
16

Crypto adoption and regulation will promote innovation- Expert

John Gospel is a crypto expert, copywriter and social media manager for brands in Blockchain and Web3. He also has a track record of building online communities from zero to thousands in months while working as a Growth Marketing Strategist for Communities & Start-ups. He shares his insights on Nigeria’s path to responsible crypto adoption, […]

Ibukunoluwa Josephine Bankole
11

The Nigerian Cryptocurrency Market: Challenges and Opportunities

Nigeria’s cryptocurrency market is very vibrant and complicated. Nigeria as a global leader in Bitcoin trading, has also reflected a lack of confidence in the established system and a need for alternate revenue streams and forms of money. This was evident as the Nigerian government outlawed cryptocurrency trading and ordered banks to suspend any accounts […]

Staff Writer
16

South Africa sounds alarm on MMM Krypto, citing potential risks

The Financial Sector Conduct Authority (FSCA) of South Africa has raised alarm on the public involvement in MMM Krypto, a mutual aid fund, citing potential risks.  The FSCA reveals that MMM Krypto might be offering financial services to the South African public through social media platforms like YouTube, TikTok, and Facebook, accompanied by enticing promises […]

Ibukunoluwa Josephine Bankole
20

FSCA reviews 50 Crypto firm licence applications

South Africa’s Financial Sector Conduct Authority (FSCA) will officially decide 1on 50 crypto businesses’ licence applications in the coming weeks. According to South African press sources, FSCA head of enforcement Gerhard van Deventer indicated in a podcast that 20 of the 90-plus applications have withdrawn. In December, the FSCA reported 128 cryptocurrency asset service provides […]

Modupeoluwa Olalere
16

FG plans cNGN Stablecoin in Nigeria

In a strategic leap forward, the Nigerian government has unveiled plans to roll out the cNGN stablecoin on February 27, 2024. Backed by the Central Bank of Nigeria (CBN), this digital currency is aimed at bringing stability to the unpredictable naira, currently grappling with the unenviable title of Africa’s weakest currency and the third weakest […]

Ibukunoluwa Josephine Bankole
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