Author: Terence Zimwara

Nigeria Announces New Cash Withdrawal Restrictions — ATMs Limited to Less Than $44 per Day – Bitcoin News

Bitcoin.com

In a new directive to financial institutions, the Central Bank of Nigeria (CBN) said individuals can now only withdraw an equivalent of just under $222 per week while corporates can only withdraw cash not exceeding $1,111 during the same period. Read More

Strike Launches Bitcoin Lightning Network-Enabled Money Transfers to Africa – Fintech Bitcoin News

Bitcoin.com

United States-based users of Strike, a digital payments platform built on Bitcoin’s Lightning Network, can now transfer funds instantly and at a low cost to Kenya, Ghana, and Nigeria via the recently added new feature known as “Send Globally.” The Read More

Web3 Crypto Onboarding Platform Transak Integrates With Coinbase Wallet – Wallets Bitcoin News

Bitcoin.com

According to Transak, users of the Coinbase self-custody wallet in South East Asia can now use its Web3 onboarding platform “as a fiat on-ramp to buy crypto.” Transak’s integration with the Coinbase wallet is coming at a time when more Read More

EU Parliament to ‘Vote on Adopting the Regulation on MiCA’ — Expert Says Industry Needs Legal Clarity – Regulation Bitcoin News

Bitcoin.com

In a recent statement, the European Parliament said its members would shortly “vote on adopting the regulation on markets in crypto-assets (MiCA).” According to the parliamentary body’s think tank, the envisaged regulations are expected to provide “legal certainty for crypto-assets Read More

South African Government to Add Crypto Entities to ‘List of Accountable Institutions’ – Regulation Bitcoin News

Bitcoin.com

According to the South African government, crypto entities — or businesses whose activities include the exchange or transfer of crypto assets — are set to be included in the list of so-called accountable institutions starting Dec. 19. Businesses that convert Read More

Ghana Takes Steps to Operationalize Gold-for-Oil Scheme — Move Expected to Help Halt Cedi’s Depreciation – Featured Bitcoin News

Bitcoin.com

According to directives issued by Samuel A. Jinapor, the Ghanaian minister for lands and natural resources, large-scale gold mining companies will be required to “sell 20% of all refined gold at their refineries to the Bank of Ghana.” A gold-for-oil Read More

‘Cryptocurrencies Like Bitcoin Make Global Commerce Easy’ — Founder of Nigerian Crypto Exchange – Interview Bitcoin News

Bitcoin.com

Despite the Central Bank of Nigeria (CBN)’s Feb. 5, 2021 directive that instructed banks to block crypto entities from the financial system, the demand and use of cryptocurrencies have continued to grow. Not even the central bank’s subsequent crackdown on Read More

Report: Luno Africa Says Customers and Operations Not Affected by Turmoil at Genesis Capital – Exchanges Bitcoin News

Bitcoin.com

Just days after reassuring concerned customers, Marius Reitz, the general manager of crypto exchange Luno Africa, recently reiterated the company has not been impacted by Genesis Capital’s decision to pause withdrawals. He added Luno customers still have access to funds Read More

Study: 6,100 Crypto ATMs Installed in 2022, Figure 3 Times Less Than in Previous Year – Featured Bitcoin News

Bitcoin.com

New data has shown that as many as 6,100 crypto and bitcoin automated teller machines were installed in the first eleven months of 2022. The latest figure is approximately three times less than the ATMs that were installed in 2021. Read More

Report: Kenyan Lawmaker Proposes Introducing Crypto Income and Capital Gains Tax – Regulation Bitcoin News

Bitcoin.com

According to a capital markets amendment bill reportedly sponsored by Kenyan lawmaker Abraham Kirwa, cryptocurrency holders in the country will be obliged to pay taxes on gains. In addition, the bill (if passed into law) would require crypto holders to Read More

Nigeria’s Rising Inflation and Foreign Exchange Shortages Fueling Devaluation Speculation — IMF Mission – Economics Bitcoin News

Bitcoin.com

According to the International Monetary Fund (IMF)’s mission concluding statement, Nigeria’s rising inflation rate as well as the continuing shortage of foreign currency are fueling the naira devaluation speculations. To achieve a unified naira exchange rate, the global lender said Read More

Ripple Partners With Africa-Focused Remittances and Payments Firm MSF Africa – Fintech Bitcoin News

Bitcoin.com

Ripple, the United States-based tech firm, has said its crypto solution known as “on-demand liquidity” is set to help MSF Africa “streamline real-time mobile payments for customers in 35 countries.” The evolution of Ripple’s partnership with MSF Africa, which has Read More

Nigerian Web3 Startup Says Funds Are Stuck With FTX, Lays Off Employees – Bitcoin News

Bitcoin.com

Nestcoin, a Nigerian Web3 startup which got an investment from Alameda Research in 2021, revealed on Nov. 14 that it had “a significant proportion of stablecoin investment” stuck at FTX. According to the startup’s CEO, laying off some employees allows Read More

Crypto.com’s Exposure to FTX Less Than $10 Million Says CEO — CRO Token Not Used as Collateral – Featured Bitcoin News

Bitcoin.com

According to the CEO of Crypto.com, Kris Marszalek, his firm had recovered much of the $1 billion that had been sent to FTX when the crypto exchange collapsed. However, he acknowledged that at the time of FTX’s collapse, Crypto.com’s exposure Read More

FTX Collapse: Africa-Focused Payments Firm AZA Finance Slams ‘Erroneous Inclusion’ in FTX Bankruptcy Filing – Featured Bitcoin News

Bitcoin.com

The founder and CEO of an Africa-focused payments firm, Elizabeth Rossiello, claimed on Nov. 11 that the beleaguered crypto exchange FTX had incorrectly included AZ Finance in its chapter 11 bankruptcy protection filing. The CEO insisted that her firm does Read More

World’s Worst Performing Currency, the Cedi, Reverses Gains — Economist Steve Hanke Says Ghana Inflation Now Over 140% – Economics Bitcoin News

Bitcoin.com

Just days after registering marginal gains against the U.S. dollar, the Ghanaian currency — the cedi — slipped to C14:$1 versus the U.S. dollar on the foreign exchange parallel market on Nov. 7. The cedi’s reversal is said to have Read More

FTX Binance Fallout: Bitdao Community Asks Alameda Research to Respond to Token Dump Allegations – Featured Bitcoin News

Bitcoin.com

After the Bitdao token’s quickfire plunge on Nov. 7, members of the Bitdao community have asked Alameda Research to address rumors the principal trading platform has dumped Bitdao’s BIT tokens. The dump, if confirmed, would be a breach of a Read More

Displaying US Dollar Prices Still Prohibited, Ghanaian Central Bank Tells Actress Lydia Forson – Regulation Bitcoin News

Bitcoin.com

The Bank of Ghana recently warned businesses quoting U.S. dollar prices that the practice is still prohibited and that the cedi remains Ghana’s sole legal tender. The bank said it is working with law enforcement to “clamp down on illegal Read More