🟠 South Africa’s message to the rest of Africa
Plus:
🇿🇦 South Africa grants 63 new crypto licenses
🏛️ FSCA chief outlines principles-based regulation
🇳🇬 CBN official testifies against Binance
🛠️ Fuse Network launches $10K summer hackathon
Oluwaseun Adeyanju
Nigerian Binance users transact using fictitious names, CBN official testifies
Olubukola Akinwumi, a CBN deputy director, revealed how Nigerians trading on Binance use false names to hide their identities.
From rigid rules to flexible principles: South Africa’s approach to financial innovation
South Africa’s financial conduct regulator aims to foster innovation while protecting consumers, as crypto licensing efforts continue.
Crypto exchange KuCoin imposes 7.5% VAT on transaction fees for Nigerian users
This follows the suspension of KuCoin’s P2P service for Nigerians in May. The remittance process of the VAT is unclear.
South Africa grants 63 new crypto licenses
This brings the total approved crypto licenses in South Africa to 138. On- and off-ramp crypto service Kotani Pay is one of the newest licensees.
Scoop: South Africa announces 30 investigations into crypto activities
FSCA has formed a special team to probe unlicensed crypto services amid ongoing regulatory efforts. 30 cases are under scrutiny as South Africa seeks to balance innovation and compliance.
USDT issuer Tether partners NODO for stablecoin education in Africa
The partnership comes amid an intensifying battle for stablecoin market share in Africa. Last year, stablecoin volume exceeded $30 billion.