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 […]

At the height of the crypto excitement in 2021, Africa’s involvement in the expanding crypto economy attracted a lot of calls. Experts desperately urged the continent to engage and create creative goods and educate its young population about possible Web3 prospects. The desire came true as Mara (CoinMara Inc.), a pan-African exchange meant to “build […]

Zimbabwe has announced its intention to initiate consultation regarding the operation of crypto assets in a news release issued by Reuters. This action occurs in response to the government’s implementation of regulations for this industry. A statement released in the state-owned newspaper invites all participants in the cryptocurrency sector to contribute their insights, including entities […]

The Nigerian Senate Committee on Capital Markets has called for the regulation of cryptocurrency. This move is in a bid to protect investors and stabilise the Nigerian economy,  Committee chairman Osita Izunaso emphasised that regulation is essential since authorities have failed to stop Nigerians from trading digital assets. Izunaso’s comments followed a session with Emomotimi […]

Solana, a well-known blockchain platform known for its fast transactions and low costs, recently made headlines when it announced the start of $DAVIDO, a new cryptocurrency backed by Nigerian superstar Davido.  This launch was a big step into the world of digital assets backed by celebrities. The goal was to combine Davido’s huge fan base […]

Kenyan cybersecurity company Kristel has broadened its reach into Ethiopia, Rwanda, and Uganda as a reaction to the growing number of companies in in need of its services in the region. Kristel as a firm helps organisations to invest in their various cyber hygiene, giving strength to their defences and protecting themselves against cyber threats […]

The price of Ethereum (ETH) surged over 16% on Monday, driven by growing speculation about the approval of a spot Ethereum ETF.  This speculation was sparked by a statement from Bloomberg’s senior ETF analyst, Eric Balchunas, who raised his odds of spot ETF approval from 25% to 75% on his X handle.  Balchunas considered a […]

Prominent cryptocurrency analyst and FX Pro trader Alex Kuptsikevich has issued a warning, stating that if Bitcoin falls below $60,000 in the next few days, there may be a big panic sell-off. Before the market is considered positive, cryptocurrency traders, based on market sentiment, are looking for a break of above $65,000. Bitcoin has been […]

The International Monetary Fund (IMF) has advised the Nigerian government to establish a robust regulatory framework for cryptocurrency trading, recommending that global crypto trading platforms be registered or licensed in Nigeria and subject to regulatory requirements.  This move aims to ensure that cryptocurrency transactions are conducted securely and transparently, minimising money laundering risks, terrorist financing, […]

Stakeholders in the blockchain industry have blamed Nigeria’s cryptocurrency trading challenges on the policies of the Central Bank of Nigeria (CBN) and the actions of dishonest players. According to them, the clampdown on Crypto could now allow dishonest people who traded cryptocurrencies to change currencies and hurt the economy even more. It is believed that […]

Nigerian authorities have vehemently denied allegations by Binance’s CEO, Richard Teng, accusing unnamed officials of soliciting a $150 million cryptocurrency bribe.  The Nigerian Information Ministry spokesperson, Rabiu Ibrahim, described the claims as baseless and an attempt by Binance to divert attention from the criminal charges it faces in Nigeria. Binance and two executives are embroiled […]

Richard Teng, an executive at Binance, accused Nigerian government officials of soliciting bribes amounting to $150 million from the cryptocurrency giant. Teng disclosed that the demand came after a meeting with Nigerian lawmakers, although their direct involvement remains uncertain. “We will not yield to illegal demands or coercion,” stated Teng unequivocally. Binance executives maintain that […]

Nigeria’s Federal Government, through the Securities and Exchange Commission (SEC), has announced plans to delist the naira from all Peer-to-Peer (P2P) platforms. This move aims to reduce the manipulation of the local currency value in the foreign exchange market. Emomotimi Agama, the SEC’s Director General, revealed this decision during an interactive session with the Nigerian […]

The Nigerian central bank has had a patchy record regarding cryptocurrencies, and this crackdown runs against a 2021 decision to make opening cryptocurrency accounts easier. Some Nigerian financial companies have warned customers against utilising their accounts for crypto transactions or face severe consequences as the country regulates cryptocurrency. Read also: OPay, Kuda, Moniepoint, others pause […]

Changpeng Zhao, the founder of cryptocurrency firm Binance, has been sentenced to four months in a US prison after pleading guilty to money laundering charges. This marks one of the most significant developments in the crypto industry since the imprisonment of Sam Bankman-Fried. Investigations by two Treasury agencies revealed that Binance failed to prevent transactions […]

South Africa’s leading cryptocurrency exchange, VALR, is set to broaden its crypto asset services beyond its home turf, targeting international markets like Poland and beyond.  CEO Farzam Ehsani revealed to Reuters the company’s ambitious plans to compete with global crypto giants by offering similar products and services while ensuring regulatory compliance in each jurisdiction. Read […]