Category: Africa
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Nigeria has the potential to lead the global digital economy. Yemi Osinbajo, vice president, says
Vice President Yemi Osinbajo of Nigeria claims that his nation is well-positioned to take the lead globally in the digital economy. But for that to happen, Nigeria must make the right decision and put more effort into improving its digital literacy. Nigeria Better Equipped Than 3 Decades Ago Yemi Osinbajo, the vice president of…
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Kenyan Company Mining Bitcoin with Wasted Energy; Business Model May Aid in Decentralization
Gridless, a Kenyan bitcoin mining company, recently disclosed how it is assisting local communities in lowering electricity costs by mining bitcoin with surplus power. The Gridless mining model has received praise because it may contribute to the decentralization of bitcoin mining and the transfer of some hashpower to Africa. Using Wasted Energy to Mine Bitcoin…
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Egyptian Central Bank Issues Crypto Warning: Offenders Face Jail
The Central Bank of Egypt (CBE) has once again warned against the use of cryptocurrencies, noting that offenders risk jail time. According to the law of the Egyptian central bank, it is unlawful to “issue, trade, or promote cryptocurrencies, create or operate platforms for their trading, or engage in related activities.” According to Tuesday’s report…
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Sango-Coin for Citizenship in the Central African Republic Is Illegal: the Constitutional Court Rules
According to reports, the Touadéra government’s offer of land and citizenship to purchasers of the sango coin is unconstitutional, as determined by a constitutional court in the Central African Republic. The nationality of the nation “has no market value,” according to the court, so the scheme to exchange sango coins for citizenship must be stopped.…
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Nigeria is the most crypto-obsessed English-speaking nation worldwide, according to a study.
Following the April cryptocurrency market crash, a new study identified Nigeria as the nation with the greatest interest in cryptocurrencies. According to the same study’s findings, Kenya is the second-best-ranked African nation. The top-ranked nations appear more interested in buying the dip, which emphasizes “their long-term outlook for cryptocurrencies,” according to Bobby Ong, co-founder of…
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Cryptocurrencies “Have the Potential to Create New Ways for Young People to Earn,” According to Kenyan Activists
According to some activists in Kenya, raising money through the sale of non-fungible tokens (NFTs) and cryptocurrencies is not only quicker, but also less expensive. Digital currency also has the “potential to create new ways for young people to earn, spend, save, and send money,” the activists continued. After the Covid-19 pandemic caused traditional funding…
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The Central Bank’s Plan’s Legal and Tax Consequences are Explained to South African Crypto Investors and Service Providers
The central bank’s recent announcement that it will begin regulating cryptocurrencies in 12 to 18 months has legal and tax ramifications for both cryptocurrency investors and businesses that offer intermediary services, according to Tax Consulting SA, a South African tax consulting firm. The South African Reserve Bank (SARB), according to the company, “will not interfere…
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The Central Bank of South Africa now views cryptocurrencies as financial assets
The South African Reserve Bank (SARB) deputy governor recently stated that the organization has revised its stance on cryptocurrencies and now considers them to be financial assets that need to be regulated as such. By the end of 2023, the SARB plans to have a regulatory framework for cryptocurrencies in place. Kuben Naidoo, the SARB’s…
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Kenya has the highest percentage of cryptocurrency owners in Africa. UNCTAD data indicate
According to the most recent data from the United Nations Conference on Trade and Development (UNCTAD), Kenya has the highest percentage of people who own cryptocurrencies out of all the African nations. UNCTAD stated that it advises the imposition of taxes that discourage cryptocurrency trading in order to counter the growing use of cryptocurrencies. The…