TL;DR, Nigeria’s new crypto tax laws under the NTAA define virtual assets, tax profits, staking, airdrops, services, and require VASPs to comply before 2026. The regulations clarify taxation points across trading, payments, and licensing, while introducing penalties, Howey Test rules, and updated compliance obligations. All VASPs must obtain proper licensing, implement KYC/AML systems, and maintain…
TL;DR, Africa’s crypto economy surged 52% to $205 billion, ranking third globally as stablecoins provide inflation protection amid currency volatility. Nigeria leads with $92.1 billion in crypto flows, while peer-to-peer platforms replace expensive traditional remittance services. Institutional adoption grows as South African banks offer digital assets and Nigerian regulators partner with Chainalysis for transparency. Africa’s…
TL;DR, A deepfake crypto scam targeted Kenya’s Ex-Prime Minister Raila Odinga’s verified X account to promote a fake Kenya Token, attracting 1,620 Telegram members before being exposed as fraud. The sophisticated scam followed patterns seen in Tanzania where billionaire Mohammed Dewji’s account was similarly compromised, raising $1.48 million through deepfake. Kenya’s upcoming Virtual Asset Service…
TL;DR, The CBN compliance department launched in Q1 2025 addresses Nigeria’s 45% surge in fraud incidents and $2 million in flagged suspicious cryptocurrency transactions through specialized financial crime supervision. Nigeria’s Central Bank restructured its regulatory framework to tackle cybersecurity vulnerabilities and digital asset risks through dedicated compliance oversight across all financial institutions. CBN mandates ISO…
In Brief Digital asset regulation anchored in research will close cross-border loopholes and standardize crypto reporting for Ghana. Resource-Based Monetary Sovereignty (RBMS) proposed, focusing on tangible assets over foreign currency debt. A potential dCedi model would be redeemable for specific commodities, shifting focus to store of value. The Bank of Ghana has taken…
South Africa rejects exchange control exemption for SARB-led crypto framework after Judge Motha rules “cryptocurrency is not money.” Financial Regulators Steering Committee establishes CASP cross-border reporting closing 1961 Exchange Control loopholes. FICA subjects Luno, VALR, Binance to AML/CFT/CPF as Luno flags onshore/offshore gap hindering institutional adoption. Framework resolves “money” vs “capital” dichotomy within year
$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.
Algeria declares war on crypto: Finance Law 2024 bans trading, mining, possession, promotion, everything. Article 31 BIS delivers 2-12 month prison terms and $3,700-$14,700 fines to protect the Dinar. Irony? Algeria ranks top 10 MENA for crypto volume yet moves opposite Morocco (now pro-adoption) and Nigeria (legalizing assets). The ban transforms digital assets from grey area to criminal offense. Africa’s crypto map fractures: adoption, restriction, or wait-and-see. Algeria chose isolation.
Speaking at the Nigeria Stablecoin Summit 2025, Director-General of the Securities and Exchange Commission of Nigeria (SEC Nigeria), Dr Emomotimi Agama boldly declared: “Nigeria is open to stablecoin business, but on terms that protect our markets and empower Nigerians.” The nation’s progress with its Naira-pegged stablecoin, its recent upgraded law might lead to an upcoming…
With digital assets growing steadily as an alternative means to income and transactions in West Africa, Ghana has taken the next step in providing better crypto investigation, countering the growing rate of Virtual asset fraud. In Brief Crypto investigations in Ghana reach new heights as EOCO secures forensic licenses to trace, confiscate, and return stolen…
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