Nigerian Regulator Threatens Crackdown on Unlicensed Crypto Entities

September 10, 2024 Bitcoin.com

bitcoin.com

The Nigerian Securities and Exchange Commission (SEC) has vowed to crack down on unlicensed cryptocurrency businesses targeting Nigerians. This comes just two weeks after approving two crypto exchanges and promising to consider similar applications. The SEC aims to protect investors without hindering innovation. To achieve this balance, Emomotimi Agama believes Nigeria needs a clear regulatory […]

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Mansa Partners With Nigerian Blockchain Platform Bitmama to Boost Cross-Border Payments

September 9, 2024 Bitcoin.com

Africa

The Nigerian blockchain payment platform Bitmama has partnered with the decentralized finance platform Mansa to improve cross-border payment accessibility in Africa. This partnership aims to enhance consumer payment capabilities and support trade across borders. Mansa’s liquidity solution has reportedly already helped foster financial inclusion in other regions. Bridging the Funding Gap The Nigerian blockchain payment […]

Hamster Kombat loses 259 million players in less than 3 months

Nigeria Aims to Include Cryptocurrencies in Tax System Overhaul

August 20, 2024 Bitcoin.com

Africa

The Nigerian government is looking to impose taxes on the cryptocurrency industry. The Federal Inland Revenue Service (FIRS) plans to introduce a new tax law to achieve this. Despite being a major crypto market, Nigeria currently receives minimal tax income from crypto-related activities. The FIRS is seeking support from the Nigerian National Assembly to implement […]

Hamster Kombat loses 259 million players in less than 3 months

‘Secrecy of Crypto Usage’ Drives Youth Cryptocurrency Adoption, Says Nigerian Regulator

June 29, 2024 Bitcoin.com

Africa

According to a Nigerian regulator, young people who are adopting cryptocurrencies are drawn to their secrecy, and many of them do not have bank accounts. However, the regulator also stated that the Securities and Exchange Commission (SEC) will continue to caution users about the potential risks of investing in this asset class. Crypto Cannot Be […]

Hamster Kombat loses 259 million players in less than 3 months

Tether, Nodo Partner to Drive Stablecoin and Bitcoin Education in Africa

June 7, 2024 Bitcoin.com

Africa

Stablecoin issuer Tether has partnered with Nodo to educate prospective African users about the use cases of stablecoins and facilitate transactions with the former’s digital asset. The six-month campaign will include Ask Me Anything (AMA) sessions, workshops, and question-and-answer sessions with crypto experts on social media. African Users to Learn of Stablecoin Use Cases The […]

Hamster Kombat loses 259 million players in less than 3 months

Associate Professor Rejects Alleged Link Between Nigerian Currency Depreciation and Crypto Trading

June 6, 2024 Bitcoin.com

Africa

Nigeria’s decision to halt naira trading on cryptocurrency exchanges is likely to worsen matters for its volatile currency,” an associate professor at the University of East London has argued. The associate professor said Nigeria can effectively regulate the cryptocurrency industry through a framework introduced by its securities regulator in 2022. Crypto Trading Not Linked to […]

Hamster Kombat loses 259 million players in less than 3 months

Nigerian Senate Committee: Regulated Crypto Trading a Boost for Local Currency

May 30, 2024 Bitcoin.com

Africa

The Nigerian Senate Committee on Capital Markets has called for the regulation of cryptocurrency and warned that the country’s unclear position could be costing the country. The committee also urged the government of Bola Tinubu to develop the capital and crypto markets to defend the local currency. Nigeria’s Ambiguous Stance on Crypto The Nigerian Senate […]

Hamster Kombat loses 259 million players in less than 3 months

Nigeria Mulls Over Banning P2P Crypto Transactions; Labels Crypto Trading as National Security Concern

May 5, 2024 Bitcoin.com

Africa

Nigerian authorities are reportedly planning to prohibit financial institutions from facilitating peer-to-peer cryptocurrency transactions. According to a report, Nigeria’s Office of the National Security Adviser has classified cryptocurrency trading as a national security concern. Three fintech startups, known for enabling such transactions, have been directed to block and report peer-to-peer cryptocurrency transactions to law enforcement […]

Hamster Kombat loses 259 million players in less than 3 months

Nigeria Cryptocurrency Clampdown: Central Bank Directs Fintech Firms to Stop Opening New Accounts

May 1, 2024 Bitcoin.com

Africa

The Central Bank of Nigeria has directed four fintech companies to cease the creation of new accounts, citing their potential use by cryptocurrency traders. An executive from one of the affected fintech companies has associated the Central Bank’s directive with a current audit of the Know Your Customer (KYC) procedures implemented by these firms. Fintech […]

Hamster Kombat loses 259 million players in less than 3 months

South African Regulator Licenses 75 Institutions as Crypto Asset Service Providers

April 24, 2024 Bitcoin.com

bitcoin.com

South Africa’s Financial Sector Conduct Authority said on April 22 that it has approved 75 institutions to be licensed as crypto asset service providers (CASPs). The regulator said the unveiling of licensed CASPs is intended to dispel misconceptions arising from the supposedly misleading media reports. FSCA Continues to Receive License Applications The Financial Sector Conduct […]

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