Nigeria’s crypto crackdown: U.S. Congress pushes for Binance exec’s release from Nigerian prison
A bipartisan House resolution urges Nigeria to free Tigran Gambaryan, detained since February, citing health concerns and due process violations.
News
97% of African countries struggle with crypto compliance: FATF
FATF’s latest review also reveals that 75% of jurisdictions globally fall short of crypto compliance.
Paxful co-founder pleads guilty to AML conspiracy charges, faces prison time
The plea comes after a tumultuous year for the P2P bitcoin exchange, which temporarily suspended operations in 2023.
🟠 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
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.