Crypto regulations, policy updates, licensing frameworks, and compliance news from central banks and financial authorities across African markets.
David Sacks’ appointment as the White House AI & Crypto Czar underscores the strategic importance of AI and cryptocurrency in national policy. Inspired by the U.S. approach, clear regulatory frameworks are essential for fostering innovation in Africa’s blockchain ecosystem. Leadership roles like Sacks’ can significantly influence global crypto policies, offering valuable lessons for African nations….
TL;DR, SARS crypto tax compliance remains unclear despite 138 approved crypto asset service providers out of 383 applications, with authorities prioritizing enforcement over clarifying abstract taxation rules. Contrary to what many South African traders think, crypto taxation triggers happen right away when assets are exchanged, even if they don’t change into fiat currency. As South…
TL;DR, Nigerian crypto community demands comprehensive crypto reforms during #EndBadGovernanceInNigeria protests, while government points to existing blockchain policy progress. Industry leaders debate whether current government blockchain efforts are sufficient, pushing for faster VASP regulation implementation. Nigeria’s blockchain leadership faces pressure as communities seek government collaboration for comprehensive development frameworks beyond trading. After the ongoing #EndBadGovernanceInNigeria…
TL;DR, OKX exchange officially exits Nigeria on August 16, 2024, due to increasingly restrictive CBN crypto regulations affecting the entire ecosystem. Nigerian users must close all trading positions and withdraw assets before the midnight deadline as regulatory pressure forces another major exchange departure. The exit follows similar regulatory challenges faced by Binance, highlighting Nigeria’s shifting stance…
TL;DR, Zimbabwe crypto regulation study launched June 12 with committee collecting data from local crypto companies, submission deadline June 26, aiming to map ecosystem and address money laundering risks. Government seeks comprehensive understanding of virtual asset industry through consultative approach, inviting both local and international firms to contribute to upcoming regulatory framework. Facing ongoing economic…
TL;DR, VALR Exchange secures dual crypto license from South Africa’s FSCA, obtaining both Category I and II approvals. With new FSCA approvals, VALR joins South Africa’s first wave of regulated exchanges, boosting trust and credibility for 5.8 million crypto users. VALR’s regulatory milestone allows advanced crypto services including discretionary strategies and product wrappers, though compliance…
TL;DR, CBN names SEC lead for crypto regulation, marking a shift from the Feb 5, 2021 bank-crypto ban and realigning with SEC’s Sept 14, 2020 guidelines. Binance-related pressures spurred clarity; the SEC leads while CBN coordinates with EFCC and ONSA to strengthen enforcement and market integrity. This shift aligns Nigeria with global trends,…
Nigeria’s Securities and Exchange Commission has transformed crypto oversight from ad-hoc bans to a structured regime. New SEC crypto regulations require ₦500M capital, monthly tax reporting to FIRS, and licensing through the ARIP program.
TL;DR, EMURGO Labs offers full‑stack venture development for Cardano in Africa and MENA, collaborating with the UNDP SDG Accelerator that supports 40 solutions annually across two four‑month cohorts. The lab blends incubation, a technical studio, advisory, custom builds, and selective funding to help Web2 firms, Web3 teams, and governments adopt or scale on…
TL;DR, South Africa’s Financial Sector Conduct Authority (FSCA) has approved 248 Crypto Asset Service Provider (CASP) licenses as of December 2024, up from just 59 in March 2024. This has turned South Africa into one of the continent’s most tightly regulated crypto markets, with the South African crypto license now a key gatekeeper…
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