Web3 Africa | Blockchain, Crypto & Web3 News Across Africa

Rwanda Announces Central Bank Digital Currency Launch Timeline for 2026

KenMichaelsJune 25, 2024July 29, 202608 mins

TL;DR, Rwandan CBDC will launch in 2026, offering financial inclusion, digital cash alternatives, and public-tested innovations to empower Rwanda’s cashless economy ambitions. Rwanda’s central bank sets a two‑year roadmap, testing CBDC design, resilience, and cross‑border payments to rival early adopters in Africa. Public consultation and feasibility research shape Rwanda’s CBDC, ensuring secure, inclusive, and technologically adaptive…

Zimbabwe Government Launches Comprehensive Study for Digital Asset Regulation

KenMichaelsJune 25, 2024July 29, 202608 mins

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…

South African Politics Enters New Era With Crypto-Friendly Leadership

KenMichaelsJune 25, 2024July 30, 202608 mins

TL;DR, The African National Congress under Ramaphosa forms historic coalition government while maintaining pro-crypto policies and pioneering regulatory frameworks in Africa. According to the Financial Sector Conduct Authority, South Africa’s crypto industry will continue to develop. Ramaphosa encourages youth participation in building local blockchain solutions. Cyril Ramaphosa bags his second term, securing a win for…

Senate Warns Unclear Crypto Stance Crushing Naira Against Global Currencies

KenMichaelsJune 19, 2024July 29, 202609 mins

TL;DR, The Nigerian Senate committee urged immediate crypto regulation establishment, warning that unclear policies are crushing the Naira. The Senate proposes a unified framework to align the CBN and SEC, promote local crypto exchanges, and adopt blockchain tech. New SEC director-general Emomotimi Agama pledged to transform Nigeria’s capital market following Senate warnings that regulatory confusion…

Kenya Becomes Hideout for Fugitive Binance Executive Nadeem Arjarwalla

KenMichaelsMay 24, 2024July 29, 202609 mins

TL;DR, A Binance executive facing money laundering and Naira manipulation charges escaped to Kenya, sparking EFCC, Interpol, and Kenyan police collaboration for extradition. The executive was detained in February alongside Tigran Gambaryan following accusations of Naira manipulation and illicit transactions. This case represents Nigeria’s aggressive stance on crypto regulation after CBN governor cited “suspicious flows” on Binance….

VALR Platform Gains Dual Crypto License for Advanced Trading Services

KenMichaelsMay 24, 2024July 29, 202608 mins

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…

US Bitcoin ETF Launch Creates Precedent for African Digital Assets

KenMichaelsMay 23, 2024July 29, 202608 mins

TL;DR, The US bitcoin ETF approval triggered a price surge, opened doors for institutions, and signals Africa’s need for clear digital asset regulation. For Africa, ETFs bring opportunities: legitimized investments, diversified treasuries, taxable revenues, and expanded access to digital assets. The ETF framework offers African regulators a tested model for cryptocurrency regulation, enabling financial institutions to diversify…

First FSCA Crypto Licenses Issued to Luno, an Exchange and Zignaly, a Decentralized Social Platform

KenMichaelsMay 23, 2024July 30, 202608 mins

TL;DR, Among the first batch to receive South Africa’s crypto license include Luno, South Africa’s top crypto exchange, and Zignaly, a decentralized social investing platform. Zignaly obtained a Category 2 discretionary FSP license listed on the FSCA registry under Merritt Administrators PTY LTD. Since June 2023, the FSCA has been accepting licensing applications, attracting over 230…

Brave New Money System? BRICS Bridge could process 20,000 transactions per second

KenMichaelsMay 21, 2024October 2, 202509 mins

TL;DR, The BRICS digital currency aims to challenge dollar dominance as USD’s share of global FX reserves dropped from 70% in 2000 to 57.8% in 2024. The BRICS Bridge platform will connect member states’ financial systems using CBDCs and stablecoins, targeting 20,000 transactions per second to compete with SWIFT. The project faces significant challenges including…

NFT Auction Featuring 10,000 Lions Supports Nairobi School Initiative

KenMichaelsMay 20, 2024July 29, 202607 mins

TL;DR, Ubunation’s NFT Auction features 10,000 unique lion NFTs at $20 each, targeting $200,000 to fund a primary school construction project in Nairobi. Web3 fundraising offers transparency advantages over traditional charity models, allowing donors to trace exactly where their contributions go. Despite its noble mission, skeptics highlight market saturation and lingering doubts over NFTs’ long-term…

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