Namibia shores up crypto regulations, grants provisional licenses to two crypto firms
The country wants these firms to meet its preauthorization requirements before they are fully licensed.
Namibia
Kenya and Namibia join 10 African countries on FATF grey list
This brings the total number of African countries on FATF’s grey list to 12, accounting for approximately 57% of all grey-listed countries.
Sophisticated crypto scam run by Chinese nationals busted in Namibia: Reports
The scammers employed young Namibians and trained them to target victims to invest in a non-existent crypto investment platform.
Nigeria received nearly $60 billion in crypto value in a year
Overall, Sub-Saharan Africa received $117.1 billion in crypto value between July 2022 and June 2023, according to data from blockchain analytics firm Chainalysis.
Namibia insists cryptocurrencies are not legal tender
The Bank warns that individuals using virtual assets will take full responsibility for such transactions.
Namibia’s crypto regulatory bill signed into law
This comes a month after the country’s parliament passed the bill and forwarded for approval
Namibia passes law to regulate cryptocurrencies despite central bank’s contrary stance
Despite the new development, the Bank of Namibia still maintains that cryptocurrencies have no legal tender status in the country.