Yellow Card, a prominent cryptocurrency exchange, has obtained a Crypto Asset Service Provider (CASP) licence from the Financial Sector Conduct Authority (FSCA) in South Africa. This milestone, which was made public earlier today, significantly improves Yellow Card’s capacity to provide secure and regulated cryptocurrency services. This achievement establishes Yellow Card as a compliant participant in […]

South Africa’s real estate market is transforming as it officially embraces cryptocurrency as a viable payment method for property purchases. This landmark development was announced on Monday and is set to revolutionise how transactions are conducted in the property sector. The announcement and its significance The integration of cryptocurrency into property transactions results from a […]

Bitcoin, the world’s largest cryptocurrency, reached a new milestone, topping $89,000 on Monday. This surge follows Donald Trump’s U.S. presidential victory, which many in the industry believe could bring more favourable crypto policies. Analysts attribute the climb to optimism around Trump’s promises to make the U.S. “the crypto capital of the planet.” He has pledged […]

Cryptocurrency has become the toast of many Africans as a means of wealth creation. Spiritual leaders in the continent are not only throwing their weights behind the digital currencies, they are also urging their congregation to make a significant investment in them. Despite the cautionary guidance and stance taken by regulators like the Bank of […]

African cryptocurrency groups on Telegram have grown by a staggering 189 percent since early 2023, according to an analysis by Bitget on October 30. The research indicated that there was a shift in digital asset usage from the Western to emerging economies. Exploring the youth-driven crypto movement on Telegram  Crypto-focused Telegram groups in Africa now […]

Bamboo, a platform that allows Africans to invest in the global stock market, on Thursday, introduced the remittance app “Coins by Bamboo” to ease money transfers from other continents to Africa. Through the iOS and Android app, users may take advantage of fee-free transactions and favourable exchange rates. In addition, Bamboo has acquired a Money […]

The White House thanked the Nigerian government for releasing Binance executive Tigran Gambaryan on humanitarian grounds, according to a statement signed by the U.S. National Security Adviser, Jake Sullivan. “I am pleased that American citizen and former U.S. law enforcement official Tigran Gambaryan has been released on humanitarian grounds by the Nigerian government and he […]

Binance Holdings executive Tigran Gambaryan flew out of Nigeria on Thursday, having languished in the African nation’s custody for eight months over money-laundering allegations against the cryptocurrency platform. Mr Gambaryan’s departure was contained in a statement written by his wife on Thursday. What was supposed to be an official visit in March for Binance executives […]

Tax agencies across Africa are targeting cryptocurrency holders in a bid to identify tax evaders using digital assets. These digital currencies’ borderless nature and minimal regulation have made them appealing to users but challenging for authorities to monitor. With the rise of crypto transactions on the continent, tax bodies see an opportunity for additional revenue. […]

The Abuja Division of the Federal High Court has freed Binance executive Tigran Gambaryan from a case of money-laundering instituted by the Economic and Financial Crimes Commission (EFCC). The Nigerian government on Wednesday withdrew all charges levelled against Mr Gambaryan stating he was only a staff of Binance Holdings and could not be held liable […]

On October 4, Lego’s website displayed an unexpected message urging users to purchase a “Lego coin,” promising exclusive rewards for those who did. However, Lego had no plans to launch its cryptocurrency, making it clear this was a scam. The message redirected users to a site offering Ethereum-based “LEGO Tokens,” signalling a cyberattack, as reported […]

The Economic and Financial Crimes Commission (EFCC) has obtained court orders freezing accounts linked to cryptocurrency services ByBit and KuCoin, totalling N548.6 million, or around $670,000. The platforms’ alleged contribution to the further depreciation of the naira is the subject of this motion, dated September 3, 2024. Read also: Clampdown on crypto exchange continues as […]

The Economic and Financial Crimes Commission (EFCC), Nigeria’s anti-graft agency, has obtained an order from the Federal High Court of Nigeria to freeze N548.6 million in bank accounts of suspected cryptocurrency users on ByBit, KuCoin, and other platforms due to their alleged involvement in naira fluctuations. The court froze the cash based on a September […]

According to SiBAN President Obinna Iwuno, Nigeria leads cryptocurrency regulation in Africa. This happened after the Nigerian SEC legalised Quidax and Busha crypto exchanges. Iwuno shared his thoughts on this development during a conversation with a media report, highlighting that the SEC’s actions not only enhance Nigeria’s reputation but also pave the way for more […]

The Head of the apex bank’s Legal Services Department and the Governor of the Central Bank of Nigeria (CBN) have been summoned by a Federal High Court in Abuja, Nigeria, to appear before it on Monday, September 2, with specific documents. This is the new date for the trial to continue in the money laundering […]

The Nigerian Securities and Exchange Commission (SEC) has recently granted an Approval-in-Principle (AIP) to two prominent cryptocurrency exchanges, Quidax and Busha. This approval marks a significant milestone in the country’s formalisation and regulation of digital assets. This approval is part of the SEC’s Accelerated Regulatory Incubation Program (ARIP), a new initiative to bring digital asset […]

Binance, a leading global cryptocurrency exchange, is expanding its footprint in Africa with a new feature that allows users in Ghana, Tanzania, Uganda, and Zambia to trade crypto assets using mobile money. This latest move is part of Binance’s ongoing efforts to make cryptocurrency accessible across the continent, particularly to the unbanked and underbanked populations. […]

In the second quarter of 2024, 503 deals brought in $2.7 billion in funding for crypto startups. This was a slight rise in capital raised despite a clear drop in deals. A report from PitchBook says that overall investment increased 2.5% compared to the previous quarter, even though there were 12.5% fewer deals. Even though […]

With reference to “recent changes in local laws and regulations,” OKX, a worldwide cryptocurrency exchange and provider of web3 services, has stated that it will stop operating in Nigeria on August 16, 2024. Users received this notice via email from the exchange, which explained that the action was taken in response to its continuous evaluation […]

On Tuesday, the Nigeria Police Force announced that Linus Williams, a self-described cryptocurrency billionaire, had been taken into custody on charges of fraud, financing of terrorism, and failure to comply with national regulations. Williams, the CEO of the Blord Group of enterprises, will be the subject of due diligence during the inquiry, according to Force […]