South Africa's Financial Sector Conduct Authority (FSCA) has granted operating licenses to 59 cryptocurrency businesses.
The authority received a total of 355 applications...
The government of Kenya suspended the project's operations, alarmed by the potential security risks and data privacy concerns posed by Worldcoin activities.
Beyond...
Part of the problem surrounding cryptocurrency adoption in Africa, besides the lack of reliable and affordable internet, particularly beyond urban areas, is the...
The Nigerian Securities and Exchange Commission (SEC) released a circular on June 9, declaring Binance Nigeria Limited (BNL) illegal in the country.
Binance...
The growth in the crypto markets has attracted players from other industries, including insurance. Cryptocurrency companies need insurance to shield against the risk of digital assets loss through theft, fraud or scams. Crypto insurance is particularly crucial for exchanges and other entities holding significant amounts of assets on behalf of their customers. This creates an opportunity for insurers so long as they can mitigate risks.
FTX, a major crypto trading firm, has filed a lawsuit in the United States Bankruptcy Court for the District of Delaware, seeking over $700 million from investment firms it had previous ties with. The lawsuit, filed on June 22, contains 16 counts.
The defendants named in the lawsuit include K5 Global, Mount Olympus Capital, SGN Albany Capital, and individuals Michael Kives and Bryan Baum. They are accused of being involved in transactions that resulted in the transfer of funds from FTX-affiliated firm Alameda Research.
As the crypto industry grows and matures, creating a legal framework that can balance innovation with consumer protection and financial stability is necessary.
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African presidents and presidential hopefuls are discussing taxing the digital economy as a campaign strategy.
Taxing digital products is a complex issue that...
The UK Intellectual Property Office (IPO) has issued a Public Advisory Notice (PAN) to clarify acceptable terms and classifications for NFTs.
As NFTs...
The United States Congress House Financial Services Committee held its first hearing on stablecoins in 2023
The discussed bill aims at regulating stablecoins
...
European Union (EU) legislators voted 517-38, with 18 abstentions, to establish a new cryptocurrency regulation framework.
Additionally, the European Parliament approved the Transfer...
Defi applications represented the most significant segments in the continent's Digital Investment, with a total transaction value of $994.40 million.
Kenya, Nigeria, South...
