#CBEX - Web3Africa

$2.1B Red Flag: West Africa Logs Suspicious Crypto Transactions Calling For Proper Oversight

KenMichaelsAugust 8, 2025January 28, 202608 mins

$2.1 billion in suspicious crypto transactions exposed across West Africa, proof that anonymity and fragmented regulation fuel fraud at scale. Nigeria SEC champions ECOWAS-wide VASP licensing and AI-powered blockchain analytics to combat cross-border scams. Following CBEX’s $840M disaster affecting 300,000 victims, regulators are deploying investor education and unified frameworks. The verdict: single-nation oversight can’t stop regional criminals. Collaboration is survival.

Bank of Ghana Issues Mandatory Registration of All Virtual Asset Service Providers Operating in the Country

KenMichaelsJuly 11, 2025January 29, 202607 mins

Ghana’s VASP registration deadline separates compliant crypto firms from the rest, but registration grants zero operating rights. It’s purely assessment, identifying exchanges, wallets, stablecoin platforms before BoG rolls out full licensing. Miss it? Face sanctions and permanent disqualification. Amid surging West African adoption and scam revivals, BoG maps the ecosystem to design FATF-aligned AML rules. Registration doesn’t mean approval; it means survival. Ghana challenges Nigeria.