In Brief Crypto Ponzi schemes are now explicitly illegal under ISA 2024, with operators facing up to ten years imprisonment and heavy fines. SEC Nigeria gains authority to regulate digital assets, freeze scam-linked accounts, and enforce KYC/AML standards on all VASPs. Mandatory registration, enhanced investor protections, and global compliance benchmarks lay the groundwork for a secure, innovative…
In Brief Busha Exchange’s proactive SEC engagement and compliance-first strategy secured its survival through Nigeria’s regulatory turmoil, earning it a provisional license. Features like Busha Earn (7.5% stablecoin yields) and Busha Spend (daily cashback) transformed crypto from speculative trading to practical financial tools. Busha’s resilience during the 2021 CBN ban, including manual withdrawal support, solidified…
TL;DR Strike Africa launched in 7 countries using Bitcoin Lightning Network for instant remittances, targeting Nigeria’s 26 million crypto users amid the naira’s 50% February 2024 crash. The platform promises “zero-fee” transfers but applies variable FX spreads and faces serious regulatory risks after Nigeria blocked major crypto exchanges just weeks before launch. Users…
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