Africa

Embattled Binance Discontinues Nigerian Naira Services — Users Urged to Convert NGN Balances

March 8, 2024 Bitcoin.com

Africa

Binance, one of the leading crypto exchanges, has said it will discontinue all Nigerian naira services on March 8. The crypto exchange’s decision to drop trading pairs that feature the naira follows weeks of attacks and an official crackdown on its Nigerian operations. Crypto experts like Oladotun Wilfred Akangbe believe dropping the naira will temporarily […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Blockchain Advocacy Group Says Nigerian Government’s Actions Could Drive Crypto Activities Underground

March 5, 2024 Bitcoin.com

Africa

Nigerian blockchain lobby group has said the government’s decision to block access to crypto trading like Binance, Kraken and Coinbase will not “help Nigeria build the much-needed trust and confidence in the financial system.” The advocacy group also said the Nigerian Communications Commission’s directive to telecommunication companies may not be consistent with the “norms of […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Binance Nigeria Standoff: Crypto Exchange’s Top Executives Summoned by House of Representatives Committee

March 4, 2024 Bitcoin.com

Africa

Top executives from Binance have been summoned to appear before the Nigerian House of Representatives Financial Crimes Committee no later than March 4. Ginger Onwusibe, the committee’s chairperson, has warned of possible repercussions should Binance executives fail to comply with the request. Latest Escalation in the Standoff Between Binance and Nigerian Authorities The Nigerian House […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Binance Claims Ignorance of $10 Billion Fine Imposed by Nigerian Government

March 4, 2024 Bitcoin.com

Binance Claims Ignorance of Billion Fine Imposed by Nigerian Government

Africa

Binance, a leading cryptocurrency exchange, has denied allegations made by a Nigerian government official that it is facing a $10 billion fine. While Binance maintains its commitment to fostering a positive relationship with the Nigerian government, it firmly states that it will not succumb to pressure to pay for the release of its detained executives. […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

The Nigerian Government and Binance: The Way Forward — CMO of Flincap

March 3, 2024 Bitcoin.com

Africa

The promise of the blockchain and cryptocurrency still remains strong. Globally, there continues to be growing interest in the blockchain and peer-to-peer exchanges. We are seeing the institutional adoption of crypto and a rise in interest in retail adoption, too. We have seen the example in the approval of ETFs for bitcoin. However, with every […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Report: Nigerian Government Imposes $10 Billion Fine on Binance

March 2, 2024 Bitcoin.com

Report: Nigerian Government Imposes Billion Fine on Binance

Africa

The Nigerian government has reportedly slapped the cryptocurrency exchange Binance with a $10 billion fine. According to a Nigerian government official, Binance is being punished for causing the local currency’s recent plunge against major currencies. Binance’s Alleged Influence on the Exchange Rate The Nigerian government is reportedly demanding a $10 billion fine from the crypto […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Nigerian Presidential Adviser Assails Binance, Calls for Measures Against the Crypto Exchange

March 2, 2024 Bitcoin.com

Africa

Bayo Onanuga, a special adviser to the Nigerian president, has leveled accusations against Binance, blaming it for exacerbating the local currency’s depreciation against major currencies. Onanuga called for immediate action against Binance, warning that its activities could potentially undermine the economy. Binance, however, has refuted these allegations, attributing the naira’s depreciation to “complex factors” that […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Global BTC Trading App Strike Launches ‘First Fully-Featured Region Outside the US’

February 29, 2024 Bitcoin.com

Africa

The fiat and bitcoin payments app, Strike, has launched its “first fully-featured region outside the U.S.” According to Jack Mallers, the founder and CEO of Strike, the African continent presents “immense opportunities for financial innovation and economic freedom.” High Inflation and Costly Remittances Render Africa a Favorable Market for Strike Strike, a payments app supporting […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Nigeria Detains Two Binance Executives, Crypto Platform Accused of Exchange Rate Manipulation

February 28, 2024 Bitcoin.com

Africa

Nigerian authorities have reportedly detained two senior executives from Binance who had recently arrived in the country. The Central Bank of Nigeria’s governor stated that in 2023 alone, $26 billion flowed through the cryptocurrency exchange from sources and users that the bank could not adequately identify. Passports of Binance Executives Seized Authorities in Nigeria have […]

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

FATF Grey Listing Concern Prompts Kenya to Establish a Crypto Working Group

February 23, 2024 Bitcoin.com

Africa

The fears that Kenya’s lack of a regulatory framework for overseeing the crypto industry has prompted the government to establish a working group tasked with drafting crypto regulations. Authorities in the East African nation are confident that the approved regulations will designate a sole regulatory body to oversee the cryptocurrency industry. Lack of Regulation Threatens […]

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