Nigerian minister urges SEC to tackle crypto regulation challenges
Nigeria’s cryptocurrency regulations are currently in the process of being updated. Go to Source
Fintech
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Nigerian central bank alleges unauthorized transactions by Binance
In a Nigerian court on Friday, July 5, Binance’s illegal operations were highlighted, with Central Bank official testifying on lack of necessary licenses and regulatory approval. Go to Source
Egyptian Fintech Startup Connect Money Secures $8 Million Seed Funding
Connect Money, an Egyptian fintech startup, recently secured $8 million in seed funding. The company plans to launch new business verticals using this investment. Connect Money aims to become the go-to platform for businesses seeking seamless banking services. Successful Capital Raise Demonstrates Investors’ Confidence in Connect Money Egyptian banking-as-a-service fintech startup Connect Money recently closed … Read more
Hong Kong targets DeFi, metaverse for fintech expansion
Despite challenges in the current DeFi and metaverse landscape, the reports highlight potential growth and innovation in these emerging sectors. Go to Source
Ex-fintech CEO sentenced to 3.75 years over price manipulation scheme
A federal judge in Florida recognized the HYDRO token as an investment contract qualifying as a security under SEC guidelines. Go to Source
Hong Kong shows off crypto, Web3 prowess in Toronto
Canadian crypto and Web3 startups could benefit from “lower taxes” and regulations that cater to “pre-commercial specialist technology companies,” said a Toronto ETO official. Go to Source
Tencent Tests Use Cases for Trading Settlements Using Digital Yuan and Mbridge
Tencent, the Chinese tech giant, was revealed to be participating in the tests that the Chinese institutions have completed using Mbridge, a CBDC-enabled cross-borders settlement platform. Tencent participated through its international settlements arm Tenpay, which piloted the use case of the Chinese CBDC, the digital yuan, to settle e-commerce exports using Mbridge’s rails. Tencent Participated … Read more
Fintech Giant Flutterwave Partners With Nigerian Anti-Graft Body to Launch Cybercrime Center
Flutterwave, a Nigerian fintech startup, has partnered with the Economic and Financial Crimes Commission (EFCC) to establish a cybercrime research center. This strategic initiative aims to intensify the fight against internet crime, enhance the security of business transactions, and provide opportunities for Nigerian youth. The partnership was formalized through a Memorandum of Understanding (MoU) signed … Read more
Australian Bank Halts Development of ETH-Based Stablecoin
The National Australia Bank recently abandoned its stablecoin initiative, and the development team behind the project is now involved with the Ubiquity stablecoin. The Australian bank’s decision to shelve the stablecoin project shows that startups are better positioned to innovate or adapt than established banks. NAB Team Joins Ubiquity The National Australia Bank (NAB) recently … Read more
Crypto Friendly Evolve Bank Under Scrutiny: Cease and Desist Order Issued
The Federal Reserve and Arkansas State Bank Department have mandated sweeping reforms at Evolve Bank & Trust following significant compliance breaches. The order highlights issues in anti-money laundering efforts and consumer protection, especially in its dealings with fintech companies and prominent crypto players like FTX. Compliance Concerns Trigger Regulatory Action Against Evolve Bank Evolve Bank … Read more
