TL;DR, Crypto in Nigeria has reached a $400M market valuation with 33.4% adoption rate, as SEC Director Agama recognizes its potential to include 38 million unbanked adults. Nigeria’s SEC Director emphasizes the need for comprehensive crypto regulation framework while acknowledging digital assets’ role in facilitating cheaper cross-border transactions. President Tinubu’s support for digital assets and…
TL;DR, Kotani Pay successfully obtained a Crypto Asset Service Provider (CASP) license from South Africa’s FSCA, joining over 248 approved applications since June 2023 to legally offer on-ramp and off-ramp services to businesses and traders. South Africa’s CASP licensing framework offers regulatory clarity in a market where 12% of citizens interact with digital assets, providing…
TL;DR, Zimbabwe crypto regulation study launched June 12 with committee collecting data from local crypto companies, submission deadline June 26, aiming to map ecosystem and address money laundering risks. Government seeks comprehensive understanding of virtual asset industry through consultative approach, inviting both local and international firms to contribute to upcoming regulatory framework. Facing ongoing economic…
TL;DR, The African National Congress under Ramaphosa forms historic coalition government while maintaining pro-crypto policies and pioneering regulatory frameworks in Africa. According to the Financial Sector Conduct Authority, South Africa’s crypto industry will continue to develop. Ramaphosa encourages youth participation in building local blockchain solutions. Cyril Ramaphosa bags his second term, securing a win for…
TL;DR, The Nigerian Senate committee urged immediate crypto regulation establishment, warning that unclear policies are crushing the Naira. The Senate proposes a unified framework to align the CBN and SEC, promote local crypto exchanges, and adopt blockchain tech. New SEC director-general Emomotimi Agama pledged to transform Nigeria’s capital market following Senate warnings that regulatory confusion…
TL;DR, VALR Exchange secures dual crypto license from South Africa’s FSCA, obtaining both Category I and II approvals. With new FSCA approvals, VALR joins South Africa’s first wave of regulated exchanges, boosting trust and credibility for 5.8 million crypto users. VALR’s regulatory milestone allows advanced crypto services including discretionary strategies and product wrappers, though compliance…
TL;DR, The US bitcoin ETF approval triggered a price surge, opened doors for institutions, and signals Africa’s need for clear digital asset regulation. For Africa, ETFs bring opportunities: legitimized investments, diversified treasuries, taxable revenues, and expanded access to digital assets. The ETF framework offers African regulators a tested model for cryptocurrency regulation, enabling financial institutions to diversify…
TL;DR, Among the first batch to receive South Africa’s crypto license include Luno, South Africa’s top crypto exchange, and Zignaly, a decentralized social investing platform. Zignaly obtained a Category 2 discretionary FSP license listed on the FSCA registry under Merritt Administrators PTY LTD. Since June 2023, the FSCA has been accepting licensing applications, attracting over 230…
TL;DR, Nigeria’s central bank officially denied issuing any fake CBN directive targeting crypto exchanges after documents circulated online claiming to freeze accounts linked to digital assets. The controversy revealed knowledge gaps in Nigeria’s crypto community, emphasizing the importance of verifying information through official channels rather than social media. The real action was a separate, court-approved…
TL;DR, DCI officers arrested four suspects linked to the GHash mining scam, seizing 1,336 SIM cards used to execute the fraudulent operation. This scheme lured investors with fake cloud mining machines and promises of 60–80% returns, hiding behind a false narrative of rural electrification while actually operating a Ponzi-style structure. Despite recent arrests, rising…
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