Emerging Markets

P2P Bitcoin Traders in Nigeria Think Outside the Box in the Wake of CBN Restrictions

<div class=”featured_image_container”> </div> <strong>After the Central Bank of Nigeria issued a directive targeting the country’s cryptocurrency industry, bitcoin and altcoin trade volumes on centralized exchanges immediately plunged. Nevertheless, the new regulations seem to have succeeded in boosting crypto trade volumes on informal markets or on peer-to-peer trading platforms. </strong> Nigerian Crypto Traders Get Creative Still, …

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How African Users Can Buy and Trade Bitcoin Cash Without Facing KYC or Geoblocking Hurdles

<div class=”featured_image_container”> </div> <strong>Africa remains the home to a large proportion of the world’s population that is unbanked according to a 2017 World Bank Global Index survey. Many of those who are unbanked cite their lack of official identification particulars as one of the main reasons for their predicament. </strong> Cryptos Narrowing Financial Exclusion Gap …

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P2P Bitcoin Trade Volumes Surge in Kenya and Ghana but Nigeria Still Dominates

<div class=”featured_image_container”> </div> <strong>According to new data, peer-to-peer (P2P) bitcoin trade volumes in Kenya and Ghana surged in Q1 of 2021, with the two countries now ranked second and third respectively. On the other hand, volumes in South Africa, which occupied second place in 2020, dropped marginally. Consequently, South Africa has now been relegated to …

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Ripple Partner Mercury FX Accepted Into ‘First Cohort’ of a South African Regulatory Sandbox

<div class=”featured_image_container”> </div> <strong>South Africa’s Inter-governmental Fintech Working Group (IFWG) recently accepted Mercury FX, a UK-based e-money firm, into the first cohort of its regulatory sandbox. The firm, which harnesses the Ripplenet blockchain, says it wants to demonstrate its technology’s ability “to shorten the money transfer window to only minutes.” </strong> Fast and Low Remittances …

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Study Finds South Koreans Aged 20-39 Mainly Invest up to $100 in Cryptocurrencies

<div class=”featured_image_container”> </div> <strong>South Korea’s “crypto boom” is a term that the local media has widely adopted to refer to the current hype seen across the Asian nation. In fact, a recent study unveiled a rising trend in the number of South Koreans making small-scale crypto investments.</strong> New Crypto Investors Seem Unafraid of Strict Regulations …

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Major Venezuelan Satellite TV Provider Enables Bitcoin and Other Cryptocurrencies Payments

<div class=”featured_image_container”> </div> <strong>Venezuelan customers from the biggest satellite TV provider in the country are now able to pay their monthly bills via cryptocurrencies. Simple TV announced it had enabled the feature to its over four million users, whose company was the replacement of Directv.</strong> Company Expects to Cut Dependency on Fiat Dollar According to …

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South African Companies Convert Cash Holdings Into BTC— Crypto Asset Is Hedge Against Devaluation

<div class=”featured_image_container”> </div> <strong>New reports emerging from South Africa suggest privately held firms are converting a portion of their cash holdings into bitcoin as they seek to hedge against currency devaluation. According to one report, an open-source software specialist firm, LSD Open, could well be the first South African company to make the bold step …

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The Turkish Lira Plunges Following Removal of a Central Bank Governor, BTC Searches up

<div class=”featured_image_container”> </div> <strong>The Turkish lira currency plunged by more than 10% on March 22 after the country’s President Recep Tayyip Erdogan unexpectedly fired Naci Agbal, the country’s central bank governor. Having initially touched a new low of 8.280 a dollar, the lira recovered to close at 7.75 a dollar by 20.00 hours GMT. </strong> …

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Central Bank of Nigeria Official Reiterates Nigerian Residents Free to Trade Cryptos: Directive Only Applies to Banking Sector

<div class=”featured_image_container”> </div> <strong>A senior executive with Nigeria’s central bank, Adamu Lamtek, has reportedly denied that his institution had placed restrictions on the use of cryptocurrencies. Instead, Lamtek, who is the deputy governor responsible for corporates services at the Central Bank of Nigeria (CBN), says his organisation’s directive only applies to the banking sector.</strong> Prohibition …

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Nigerian Vice President Yemi Osinbajo Contradicts Central Bank, Says Cryptocurrencies Must Be Regulated and Not Prohibited

<div class=”featured_image_container”> </div> <strong>In an apparent rebuke of the Central Bank of Nigeria (CBN), the Vice President of Nigeria Yemi Osinbajo says the country’s monetary authorities must consider regulating crypto assets. He adds that instead of “killing the goose that might lay the golden egg”, Nigerian monetary authorities must consider providing a “robust regulatory regime” …

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