Regulation

South Africa’s Crypto Boom: FSCA Issues New Licenses Amid Growing Adoption

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    South Africa is making headlines in the cryptocurrency world this week as the Financial Sector Conduct Authority (FSCA) has issued a new batch of licenses to Crypto Asset Service Providers (CASPs), bringing the total number of licensed CASPs in the country to 248. South Africa is experiencing a significant surge in cryptocurrency adoption, […]

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Challenges to Stablecoin Adoption in African Economies

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As stablecoins gain traction across the globe, their potential to transform financial systems in African countries is becoming increasingly evident. Stablecoins have gained significant traction in Africa, as they offer solutions to some of the continent’s most pressing economic challenges, such as currency volatility, inflation and limited access to traditional banking services.  The path to

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Banking on the Future: Africa’s Robust Financial Sectors and What It Means for Cryptocurrency

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  A recent report from African Business, which provides a comprehensive analysis of the top banks across the continent, has highlighted the strong financial sectors in East, West, Central and Southern Africa. With Nigeria notably leading in West and Central Africa, it sets the stage for significant advancements in the cryptocurrency space.  In this article,

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South African SARS AI Crypto Tax Crackdown: A New Era of Compliance

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The South African Revenue Service (SARS) has significantly ramped up its efforts to ensure tax compliance within the burgeoning cryptocurrency sector.  Leveraging advanced Artificial Intelligence (AI) technologies, SARS aims to identify and penalize non-compliant crypto traders, marking a pivotal shift in the nation’s approach to digital asset regulation. The Rise of AI in Tax Enforcement

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An Eye on Regulation: Nigeria’s Crypto Landscape in 2024

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  In a significant turn of events, Nigeria has made headlines in 2024 with its newly progressive stance on cryptocurrency regulation.  As one of Africa’s largest economies and a key player in the continent’s digital revolution, Nigeria’s regulatory shifts are poised to influence the broader African crypto market. The Lifting of the Ban In a

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Bank of Ghana Unveils New Proposed Crypto Regulations

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    The Bank of Ghana has just dropped a game-changer in the world of cryptocurrency!  With its newly proposed regulations, Ghana is positioning itself to become a trailblazer in the African crypto landscape.  These forward-thinking rules aim to create a secure and innovative environment for digital currency enthusiasts and investors alike. Key Highlights of

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How Licensing Will Change Crypto In South Africa

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South Africa’s Financial Services Conduct Authority (FSCA) has indicated that the first 59 licences are almost ready to be awarded, which would grant these companies the right to operate as crypto assets financial services providers. About 262 applications are in progress. Crypto assets were declared as financial products in terms of the Financial Advisory and

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Original Article By: https://iafrica.com/how-licensing-will-change-crypto-in-sa/

South African Ombud to Investigate Crypto Complaints

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FAIS Ombud Announces Commitment to Resolve Complaints in a “Procedurally Fair, Informal, Economical and Expeditious Manner” The South African Office of the Ombud of Financial Services Providers (FAIS) has announced that it can now investigate complaints against providers of crypto assets, as well as existing registered Financial Service Providers who offer advice on Cryptocurrency. There

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Nigeria Latest Country to Create Regulatory Framework for Stablecoins

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  The central bank of Nigeria has released a report to examine the development of a regulatory framework for the potential use of stablecoins. The report also focuses on the national CBDC, eNaira, and Initial Coin Offerings (ICOs).   The Central Bank of Nigeria (CBN) has released the “Nigeria Payments System Vision 2025” report, which examined

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Original Article By: https://ambcrypto.com/nigeria-latest-country-to-create-regulatory-framework-for-stablecoins-details-inside/

How Morocco’s Protective Crypto Bill Can Influence Other North-African Nations

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  As crypto adoption continues to soar worldwide, Morocco is set to become one of the nations with a bill regulating cryptocurrency use. Morocco’s central bank, Bank Al-Maghrib (BAM), was reported in March 2022 to be in a serious dialogue with the International Monetary Fund (IMF) and the World Bank (WB) alongside other European central

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Original Article By: https://technext.ng/2023/01/04/morocco-central-bank-governor-announces/

Big Changes Coming For How Cryptocurrencies Are Regulated In South Africa

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    The Financial Sector Conduct Authority (FSCA), which works in collaboration with the South African Reserve Bank (SARB), recently announced that it is establishing a new regulatory framework for cryptocurrencies in South Africa. Both the FSCA and the SARB have been vocal about declaring cryptocurrencies as financial products, and the Prudential Authority division at

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Original Article By: https://businesstech.co.za/news/finance/619791/big-changes-coming-for-how-cryptocurrencies-are-regulated-in-south-africa/

Binance Says It Is Winning Crypto Clients Thanks To Inflation

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  LIMA August 10 – Binance, the world’s largest cryptocurrency exchange, is seeing a surge in clients due to rising inflation and a historically strong dollar that has depressed emerging market currencies, an executive told Reuters on Wednesday, without disclosing numbers. “Now that we are seeing inflation ramping up worldwide, we are seeing that more

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Original Article By: https://www.reuters.com/technology/binance-says-it-is-winning-crypto-clients-thanks-inflation-2022-08-10/

Imminent Crypto Regulation in South Africa – Are You Ready?

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  A long period of silence on cryptocurrency regulation in South Africa has finally been broken. South African Reserve Bank (“SARB”) deputy governor, Kuben Naidoo, has now confirmed that new regulations are set to be implemented within the next 12 – 18 months. This development will see South Africa following suit with other countries, such

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Original Article By: https://www.msn.com/en-za/news/other/imminent-crypto-regulation-in-south-africa-are-you-ready/ar-AAZD1WZ

Morocco To Bring Cryptocurrency Regulation Soon

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  Morocco will soon join the list of countries that have introduced a regulatory system to manage the cryptocurrency being circulated in the country. The Central Bank of Morocco, Bank Al-Maghrib (BAM) is working on the design of the crypto regulation bill with consultation from a global financial institution.   What’s the Need for a

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Original Article By: https://insidebitcoins.com/news/morocco-to-bring-cryptocurrency-regulation-soon

Namibia’s Central Bank Plans to Introduce Digital Currency

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    Namibia’s central bank has announced intentions to launch its central bank digital currency (CBDC) following a release of the bank’s FinTech regulatory framework amid the global rise and increasing adoption of cryptocurrencies. “We cannot ignore CBDC, it is a reality out there and for that reason, the Bank of Namibia has started researching

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Original Article By: https://namibiadailynews.info/namibias-central-bank-plans-to-introduce-digital-currency/

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