EA Capital received a CASP license from the FSCA in South Africa. The FSCA’s strict regulations aim to strengthen investor safety and marketplace credibility across Africa. South Africa’s regulatory approach serves as an inspiration for other investors and innovators. EA Capital has made exquisite strides in South Africa’s cryptocurrency area by receiving a Cryptocurrency Asset…
TL:DR, South Africa issued 75 crypto licences under FAIS Act: 71 Category I, 33 Category II, 3 Category IIA, with notable companies like Revix approved but Binance absent. Revix is among the CASPs that received their crypto licences under its incorporated name, RVX SA Capital (pty) Limited. We expect South Africa to be a hotbed of innovation…
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,…
TL;DR, The Central Bank flagged $26 billion in untraceable transactions linked to Binance operations, intensifying the government probe into Nadeem Anjarwalla before his escape. Following a mysterious breach of custody, Nigerian authorities have charged Binance with tax evasion and enlisted Interpol to issue an international warrant for the fleeing regional manager. This incident highlights the…
TL;DR, Out of 355 total applicants, only 59 companies have successfully met the requirements to secure FSCA crypto licenses in South Africa’s first regulatory wave. The South African regulatory journey, starting in 2018, has evolved into a comprehensive framework that legitimizes crypto assets to protect consumers and prevent financial crimes. This regulatory move covers a…
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…
TL;DR, Authorities blocked exchanges to protect naira stability as the currency hit 1,900 per dollar, yet data shows Nigeria ranks second globally in crypto adoption, suggesting bans may be ineffective against market forces. Government officials allege $26 billion in untraceable flows passed through Binance, prompting a severe crackdown to stop currency manipulation and prevent further…
TL;DR, The new Paycorp partnership enables crypto ATM withdrawal capabilities at over 3,000 Cash Express machines across South Africa, allowing users to cash out up to R5,000 ($293) per transaction without a bank card. Using the CryptoExpress app, South Africans can complete light KYC, send crypto on-chain, receive a voucher PIN and withdraw rand from…
TL:DR, Central African Republic announces plans for a comprehensive crypto legal framework, appointing a 15-member committee to draft legislation for Bitcoin and Sango Coin adoption despite infrastructure challenges. President Touadera champions cryptocurrency as a means to bypass traditional financial barriers and reduce dependence on the CFA Franc monetary union. CAR joins South Africa as one…
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