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 […]

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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 […]

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South African Regulator Licenses 75 Institutions as Crypto Asset Service Providers

April 24, 2024 Bitcoin.com

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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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Nigerian Blockchain-Based Payment Startup, Ivorypay, Partners With Stablecoin Issuer, Tether

April 21, 2024 Bitcoin.com

Africa

A Nigerian startup specializing in blockchain-based payments and remittances has entered into a partnership arrangement with the stablecoin issuer Tether. The arrangement is expected to extend the benefits of stable digital transactions to a larger number of consumers and businesses across the African continent. Ivorypay, Tether Partnership Aims to Boost User Confidence Ivorypay, a Nigerian […]

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More Than 250 Zambian Students Attend Hackathon; Over 100 Earn Smart Contract Development Certification

April 17, 2024 Bitcoin.com

Africa

More than 250 Zambian university students recently participated in an online boot camp and hackathon which saw over 100 earning certification in smart contract development. The students who complete their minimum viable products (MVPs) can apply for grants ranging from $1,000 to $25,000. Students Trained in Decentralized Application Development More than 250 students from St. […]

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Experts: Nigeria’s Binance Crackdown Shakes Investor Confidence

April 16, 2024 Bitcoin.com

Africa

The Nigerian government’s crackdown on cryptocurrency exchanges, including its targeting of Binance, has prompted some cryptocurrency firms to reconsider plans to either enter or further invest in the West African nation. A founder of a cryptocurrency exchange stated that the crackdown on Binance raises questions about the fundamental rule of law necessary for any society […]

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

April 5, 2024 Bitcoin.com

Africa

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

April 4, 2024 Bitcoin.com

Africa

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

March 28, 2024 Bitcoin.com

Africa

According 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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Detained Binance Executive Escapes Custody in Nigeria, Government to Request Interpol Assistance

March 26, 2024 Bitcoin.com

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A senior executive at Binance, who was detained by Nigerian authorities in late February, has since escaped from custody. The executive Nadeem Anjarwalla is believed to have left the country using a Kenyan passport. The Nigerian government confirmed Anjarwalla’s escape and said it would ask Interpol to issue an international arrest warrant. Binance Executive Departs […]

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