crypto africa

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Nigerian Presidential Adviser Assails Binance, Calls for Measures Against the Crypto Exchange

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Bayo Onanuga, a special adviser to the Nigerian president, has leveled accusations against Binance, blaming it for exacerbating the local currency’s depreciation against major currencies. Onanuga called for immediate action against Binance, warning that its activities could potentially undermine the economy. Binance, however, has refuted these allegations, attributing the naira’s depreciation to “complex factors” that … Read more

Global BTC Trading App Strike Launches ‘First Fully-Featured Region Outside the US’

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The fiat and bitcoin payments app, Strike, has launched its “first fully-featured region outside the U.S.” According to Jack Mallers, the founder and CEO of Strike, the African continent presents “immense opportunities for financial innovation and economic freedom.” High Inflation and Costly Remittances Render Africa a Favorable Market for Strike Strike, a payments app supporting … Read more

South Africa Regulators to Unveil Document Categorizing Stablecoins as a ‘Particular Type of Crypto Asset’

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In 2024, the Intergovernmental Fintech Working Group, a consortium of South African regulators that unveiled a position paper on crypto assets in 2021, is expected to “publish additions to include stablecoins as a particular type of crypto asset.” The consortium is also considering the impact of tokenisation on domestic financial markets and is expected to … Read more

Licenced Stablecoin on/off Ramp Yellow Card to Introduce USDC on Stellar Network

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The African stablecoin on/off ramp, Yellow Card, is set to introduce the stablecoin USDC on the Stellar network. This partnership has the potential to transform global payments and accelerate the adoption of digital assets. Lightning Fast Transfer Speed Yellow Card, a major licensed stablecoin on/off ramp in the African continent, recently announced plans to introduce … Read more

Ethiopia’s Affordable Hydropower and Adoption of Crypto Mining Attracts Chinese Bitcoin Miners

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The Ethiopian state electricity company has reportedly signed power supply agreements with 21 mainly Chinese bitcoin miners. The African country’s pursuit of foreign exchange has seemingly taken precedence over the concerns often raised by climate change advocates. Ethiopia Set to Become the Preferred Destination for Chinese Bitcoin Miners Ethiopia’s state power company has entered into … Read more

Expert Calls for Full Cryptocurrency Regulation in Nigeria to Mitigate Digital Asset-Related Financial Crimes

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Nigeria must fully regulate crypto activities if it wants to curb financial crimes associated with digital assets, a forensic expert has said. The co-founder of A&D Forensics also called on Nigeria to enact laws that would mandate banks to vet service providers before granting them account access. Curbing Crypto-Related Financial Crimes According to a blockchain … Read more