For an African trader, stablecoins are a medium to buy in and out of the market; for a freelancer, it’s higher pay and faster transactions; for organizations, it’s cheaper cross-border payments and faster settlement times. Stablecoins are efficient, but South Africa’s central bank just said it’s too efficient, citing how this particular digital asset threatens…
TL;DR, Under the Kenya VASP Act, Kenya replaced the 3% Digital Asset Tax with a 10% excise on exchange fees; regulators also confirm no VASP is licensed yet. CBK will oversee payment-focused VASPs; CMA handles securities-like tokens. Regulations are pending, so firms should prepare AML, governance, and disclosure programs now. Kenya is shifting…
TL;DR, SEC Nigeria, partnering with CBN and EFCC, is freezing crypto wallets to combat Ponzi fraud, which has cost Nigerians over ₦174 billion ($112 million). The new Investment and Securities Act 2025 (ISA 2025) gives SEC Nigeria the legal power to classify crypto as securities, monitor telecoms data, and impose severe penalties including 10-year prison…
TL;DR, The FTX Recovery Trust has withdrawn its plan to block nearly $800 million in FTX creditor payouts to 49 “restricted” nations after facing over 70 legal objections. While a victory for creditors, the withdrawal was filed “without prejudice,” meaning the Trust could still refile to restrict payments, urging continued vigilance from claimants. As payouts…
TL;DR, Nigeria, South Africa, Mozambique and Burkina Faso exit the FATF grey list. The countries achieved this by implementing major reforms, including South Africa’s new crypto (VASP) regulations and Nigeria’s improved collaboration between its Central Bank and financial intelligence units to tackle money laundering. Â FATF delisting hinges on 40 Recommendations, 11 Outcomes, and…
TL;DR, As kenya crypto law nears enactment, Sub-Saharan crypto hit $205B (+52% YoY), underscoring urgency for licensing, taxation clarity, and consumer protection. The Kenya VASP bill mandates local registration for exchanges, wallets, and custodians, enforces AML/KYC, and introduces a 3–5% digital asset tax. Kenya is creating a balanced regulatory approach—less restrictive than South…
TL:DR, The Paxful shutdown affects 14 million users in 140+ countries; withdraw funds before November 1, 2025 to avoid losing access. Closure stems from historic misconduct by former executives plus mounting legal and compliance remediation costs that made operations unsustainable. The exchange’s collapse was caused by massive legal and compliance costs stemming from…
TL:DR, Â Kenya VASP Bill clears third reading; existing providers get six months to apply, with VASP fines up to $154,000 and individuals facing up to 10 years. The bill establishes a “twin-pillar” regulatory model, appointing the Central Bank of Kenya (CBK) and Capital Markets Authority (CMA) as joint regulators to oversee all crypto…
Nigeria’s $59B crypto economy collides with IMF reality check: fragmented oversight fuels capital flight, FX instability, and record fraud (1,056% above global baseline). Top 3 in adoption, #1 in scams, 43% of volume flows through stablecoins outside formal channels. Despite SEC initiatives like cNGN and VASP rules, piecemeal reforms falter. IMF’s prescription: unified, enforceable frameworks aligned with global AML/CFT standards or face macroeconomic disaster.
Renowned asset exchange Quidax recently collaborated with Nigeria’s Securities and Exchange Commission to host a blockchain training series at Lagos’s prestigious Capital Club. The two-day event brought together key players within commercial banks, asset management firms and other financial sectors, underscoring how vital digital assets are, now more than ever. In Brief The blockchain training…
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