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Nigerian Central Bank Prohibits Use of Foreign Exchange as Collateral for Local Currency Loans

Bitcoin.com
Nigerian Central Bank Prohibits Use of Foreign Exchange as Collateral for Local Currency Loans
Africa
Nigerian Central Bank Prohibits Use of Foreign Exchange as Collateral for Local Currency LoansThe Central Bank of Nigeria has barred the use of foreign exchange as collateral for local currency loans. In its April 8 letter addressed to banks, the CBN warned of severe consequences for banks that fail to comply with the latest directive. Halting the Slide of the Naira Hamstrung by ongoing shortages of U.S. dollars, […]
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Stripe bringing back crypto payments, this time with a stablecoin

Stripe bringing back crypto payments, this time with a stablecoin

Ghanaian Fintech Startup Zeepay Secures $3 Million Equity Investment

Bitcoin.com
Ghanaian Fintech Startup Zeepay Secures Million Equity Investment
Africa
Ghanaian Fintech Startup Zeepay Secures Million Equity InvestmentThe Ghanaian fintech startup Zeepay recently secured a $3 million equity investment from the venture capital firm, Verdant Capital Hybrid Fund. Zeepay plans to use the raised funds to bolster its standing as it prepares for significant growth in 2024. Solidifying Zeepay’s Position in Africa The Ghanaian fintech startup, Zeepay, recently secured a $3 million […]
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Stripe bringing back crypto payments, this time with a stablecoin

Stripe bringing back crypto payments, this time with a stablecoin

Detained Binance Executive Pleads Not Guilty; Nigerian Judge Sends Him to Prison

Bitcoin.com
Detained Binance Executive Pleads Not Guilty; Nigerian Judge Sends Him to Prison
Africa
Detained Binance Executive Pleads Not Guilty; Nigerian Judge Sends Him to PrisonThe Binance executive detained by Nigerian authorities for nearly six weeks has pleaded not guilty to charges of money laundering. Binance expressed deep disappointment that Tigran Gambaryan, who holds no decision-making power within the company, remains in detention. Judge Dismisses Tigran Gambaryan’s Arguments Tigran Gambaryan, a detained executive from Binance, pleaded not guilty to money […]
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Stripe bringing back crypto payments, this time with a stablecoin

Stripe bringing back crypto payments, this time with a stablecoin

Zimbabwe’s Central Bank Launches Gold-and Forex-Backed ‘Structured Currency’

Bitcoin.com
Zimbabwe’s Central Bank Launches Gold-and Forex-Backed ‘Structured Currency’
Africa
Zimbabwe’s Central Bank Launches Gold-and Forex-Backed ‘Structured Currency’The Reserve Bank of Zimbabwe has introduced a foreign exchange and gold-backed “structured currency” to replace the struggling local currency. The structured currency banknotes will be “fully convertible into the reserve currency on demand.” The central bank has also reduced the annual interest rate from 130% to 20%. Structured Currency Supported by Solid Fundamentals The […]
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Stripe bringing back crypto payments, this time with a stablecoin

Stripe bringing back crypto payments, this time with a stablecoin

Nigerian Court Postpones Detained Binance Executive’s Tax Evasion Case to April 19

Bitcoin.com
Nigerian Court Postpones Detained Binance Executive’s Tax Evasion Case to April 19
Africa
Nigerian Court Postpones Detained Binance Executive’s Tax Evasion Case to April 19A Nigerian court has postponed the tax evasion case of the detained Binance executive to April 19, while the hearing for the cryptocurrency exchange itself is scheduled for April 8. The court also ordered that the executive Tigran Gambaryan be held in the custody of the Economic and Financial Crimes Commission. Tigran Gambaryan Accused of […]
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Stripe bringing back crypto payments, this time with a stablecoin

Stripe bringing back crypto payments, this time with a stablecoin

Binance: Detained Executive Lacks Decision-Making Authority, Must Be Released

Bitcoin.com
Binance: Detained Executive Lacks Decision-Making Authority, Must Be Released
Africa
Binance: Detained Executive Lacks Decision-Making Authority, Must Be ReleasedTigran Gambaryan, the Binance employee detained by Nigerian authorities, is a stringent law enforcement professional with no decision-making authority, according to the crypto exchange. Through his Financial Crime Compliance (FCC) team, Gambaryan has responded to more than 600 information requests from Nigerian authorities. Gambaryan Hired to Assist Binance with Past Compliance Issues Tigran Gambaryan, an […]
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Stripe bringing back crypto payments, this time with a stablecoin

Stripe bringing back crypto payments, this time with a stablecoin

Detained Binance Executive Sues Nigerian Anti-Graft Agency for ‘Fundamental Rights’ Violation

Bitcoin.com
Detained Binance Executive Sues Nigerian Anti-Graft Agency for ‘Fundamental Rights’ Violation
Africa
Detained Binance Executive Sues Nigerian Anti-Graft Agency for ‘Fundamental Rights’ ViolationThe Binance executive who is being held by Nigerian law enforcement has sued the country’s anti-corruption agency for violating his fundamental rights. The executive also wants the local court to declare the seizure of his passport “a violation of his fundamental right to personal liberty.” Violation of the Right to Personal Liberty The detained Binance […]
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Stripe bringing back crypto payments, this time with a stablecoin

Stripe bringing back crypto payments, this time with a stablecoin

Nigerian Central Bank Not in Charge of Crypto Regulation, Says Governor

Bitcoin.com
Nigerian Central Bank Not in Charge of Crypto Regulation, Says Governor
Africa
Nigerian Central Bank Not in Charge of Crypto Regulation, Says GovernorAccording to the governor of the Central Bank of Nigeria, the Securities and Exchange Commission is responsible for regulating cryptocurrencies. However, the governor said the central bank will collaborate with law enforcement agencies and regulators overseeing the Nigerian crypto sector. The Central Bank’s Change of Heart In a surprise announcement, Yemi Cardoso, governor of the […]
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Stripe bringing back crypto payments, this time with a stablecoin

Stripe bringing back crypto payments, this time with a stablecoin

Court Orders Binance to Hand Over ‘Comprehensive’ User Data to Nigerian Authorities

Bitcoin.com
Court Orders Binance to Hand Over ‘Comprehensive’ User Data to Nigerian Authorities
Africa
Court Orders Binance to Hand Over ‘Comprehensive’ User Data to Nigerian AuthoritiesA Nigerian high court has ordered Binance to provide the Economic and Financial Crimes Commission (EFCC) with comprehensive data relating to all Nigerian traders on its platform. The EFCC alleges it has discovered instances of price discovery, confirmation, and market manipulation on the Binance platform. Binance Violates Nigerian Anti-Money Laundering Laws In a fresh development […]
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Stripe bringing back crypto payments, this time with a stablecoin

Stripe bringing back crypto payments, this time with a stablecoin

Real-World Assets Platform Gluwa Considers Developing Liberia’s CBDC

Bitcoin.com
Real-World Assets Platform Gluwa Considers Developing Liberia’s CBDC
Africa
Real-World Assets Platform Gluwa Considers Developing Liberia’s CBDCThe real-world assets platform, Gluwa, is exploring the potential to assist in the development and launch of Liberia’s central bank digital currency. To increase the likelihood of the digital currency’s success, Gluwa is also considering the launch of a satellite-based internet service. Making the Digital Currency Compatible with Liberia’s Mobile Money System Gluwa, a real-world […]
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Stripe bringing back crypto payments, this time with a stablecoin

Stripe bringing back crypto payments, this time with a stablecoin

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