Ghanaian and Nigerian Central Bank Open Respective Regulatory Sandbox Application Processes â Fintech Bitcoin News
The Ghanaian and Nigerian central banks have invited financial innovators that wish to be included in their respective regulatory sandboxes to submit applications. The Bank of Ghana said its sandbox will also support innovations that attempt to solve the financial exclusion challenge. Solving the Financial Exclusion Challenge The Ghanaian central bank has called on registered […]
Central African Republic Sets Up Committee Tasked With Drafting Crypto Bill â Africa Bitcoin News
The Central African Republic (CAR) president, Faustin-Archange TouadĂ©ra, recently said his government has established a 15-member committee tasked with creating a comprehensive legal framework that governs the use of cryptocurrencies. According to an official document issued by the CAR cabinet, the committee has already started its work and will regularly update the government. CARâs Ambitions […]
New South African Code Says Crypto Asset Ads Must Include Capital Loss Warning â Africa Bitcoin News
Crypto asset service providers in South Africa seeking to attract investors via advertisements must âexpressly and clearly state that investing in crypto assets may result in the loss of capital.â Influencers working on behalf of crypto asset service providers must ânot offer advice on trading or investing in crypto assets and may not promise benefits […]
Nigerian Banks Still Distributing Old Naira Banknotes as Demonetization Date Approaches â Africa Bitcoin News
With just a few days left before old Nigerian naira banknotes are removed from circulation, some banks have accused the Central Bank of Nigeria of failing to distribute enough new banknotes. Despite growing pressure for it to extend the period for returning the old notes, the central bank insists the Jan. 31 deadline still stands. […]
UAE Says No Virtual Asset Service Provider Has Been Granted an Operating Permit â Regulation Bitcoin News
The United Arab Emirates virtual assets regulator has said no crypto entity has been granted the full market product (FMP) license. According to the countryâs minister of state for artificial intelligence and the digital economy, Omar Sultan Al Olama, no crypto entity has been âable to onboard any customers even last week.â VARA Has Yet […]
Silvergate Capital Incurs Loss of $1 Billion in Q4 of 2022 â Finance Bitcoin News
Silvergate Capital Corporation, the parent firm of the crypto-focused bank Silvergate Bank, has attributed the $1 billion loss it incurred in the fourth quarter of 2022 to the confidence crisis that permeates the entire crypto ecosystem. While Silvergate has taken steps to help it navigate the current environment, according to the CEO Alan Lane, the […]
Nearly $1 Billion Poured Into Egypt’s Forex Market â Local Currency Now World’s Worst Performing Currency in 2023 â Economics Bitcoin News
The Egyptian central bank recently claimed that its decision to devalue the local currency has been vindicated by foreign investorsâ return to the countryâs foreign market where they reportedly poured in $925 million in just three days. The surge in the sales of Egyptian treasury bills that mature in a year or less similarly is […]
Metamask Wallet Users Warned to Be on the Lookout for Address Poisoning Attacks â Wallets Bitcoin News
To avoid becoming victims of an address poisoning attack, Metamask wallet users should ditch the practice of copying and pasting wallet addresses, the crypto wallet app support team has warned. Metamask users should instead âdevelop a habit of thoroughly checking every single character of an addressâ before sending a transaction. Scammers Exploiting Usersâ Carelessness Metamask […]
New Nigerian Central Bank Document Discusses Regulation of Stablecoins and ICOs â Bitcoin News
According to a recently unveiled document, the Nigerian central bank will in the future be open to developing a regulatory framework for potential implementations of stablecoins. The document also discusses the regulation of initial coin offerings (ICOs) and how these can become âa new way to attract foreign direct investment (FDI) and raise capital.â âA […]
Fintechs Accounted for Over 30% of Tracked Kenyan Tech Startups in 2022 â Study â Fintech Bitcoin News
As of November 2022, Kenyan fintechs accounted for 30.2% or 93 out of the 308 tracked tech startups, a Disrupt Africa study recently found. In addition, the study findings show that the fintech sub-sector alone accounted for 3,100 or 27% of the 11,462 people that were employed by tech startups during the same period. Fintechs […]