News list for " africa"
Africa's largest crude oil producer is recovering, facing the temptation of economic interests, it may face a showdown with OPEC + over quotas. Click to view...
A South African law enforcement agency has recently arrested a 35-year-old man on suspicion of using cryptocurrencies to finance terrorist activities. The investigation was launched in May 2018, when the Financial Intelligence Centre (FIC) and the Detection Unit received information regarding suspicious transactions suspected of being linked to terrorist financing. It is alleged that on November 30, 2017, the suspect made a...
Mzwanele Manyi, a member of the South African parliament, said: "Bitcoin is on the rise across the board and it will devalue gold, which is unstoppable."
CITIC Securities pointed out that the number of new non-farm payrolls in the United States in November 2024 was slightly higher than expected. Healthcare services, leisure and hospitality sectors and government departments were the main contributors, and retail was the main drag. After the impact of hurricanes and strikes dissipated, the new non-farm payrolls in November rebounded as scheduled. The unemployment rate rose and the US job market weakened modestly, but wage growth remained solid and...
The South African Financial Conduct Authority (FSCA) has announced that, although the West Gap Branch High Court has revoked the funds preservation order against the South African exchange Banxso (Pty) Ltd, Banxso's Financial Services Provider (FSP) license is still revoked, and the company cannot conduct financial services business, and its funds can only be used to relocate customers to other financial services providers authorized by the FSCA. The Banxso-related case is tentatively scheduled ...
Hedera has announced that the Nairobi Stock Exchange Africa (NSE) has joined the Hedera Council to accelerate its tokenization program through the Hedera Network. NSE is the 32nd member of the Hedera Council, a diverse group of global organizations that operate and manage the decentralized Hedera Network.
Binance has expanded its services in West and Central Africa, expanding mobile payments to six countries including Benin, Cameroon, Ivory Coast, Democratic Republic of Congo, Togo and Senegal. The platform hopes to increase its financial inclusion by making cryptocurrencies more accessible to millions of Africans through local partnerships. Cryptocurrency enthusiasts in these regions can buy cryptocurrencies directly through mobile payment services.
On October 18th, Pan-African financial technology company Yellow Card completed a $33 million Series C financing round, led by Blockchain Capital. Yellow Card is a pan-African fintech company that provides stablecoin-based financial infrastructure. As the continent's largest and first licensed stablecoin inbound/outbound platform, the company offers businesses of all sizes a safe and cost-effective way to buy and sell USDT, USDC, PYUSD and more in local currencies - either directly or through it...
South Africa's Financial Sector Conduct Authority (FSCA) on Wednesday suspended the financial services provider license of Banxso, a platform that offers cryptocurrency trading, citing concerns that its marketing practices promised customers unrealistic returns. It follows allegations that Banxso used depth fakes in its advertising campaigns and aggressive sales techniques to force customers to invest without proper threat and risk assessment.
Yellow Card, an African cryptocurrency exchange, has completed a $33 million Series C funding round led by Blockchain Capital, with participation from Coinbase, Kraken, OpenSea and Worldcoin. This round of financing will be used to expand its B2B business. Yellow Card's total financing amount reaches at least $88 million.
The South African Revenue Service (SARS) has announced the inclusion of crypto assets in its compliance program. The Revenue Service is seeking information about crypto users from the Financial Sector Conduct Authority (FSCA) and crypto asset service providers. SARS said recently that it felt compelled to take this step after noticing that taxpayers had failed to declare crypto assets and transactions in their tax returns. According to the statement, South African law requires SARS to account fo...
According to Bitcoin.com, South African crypto exchange Luno has partnered with Zapper to enable cryptocurrency payments at more than 31,000 merchants across the country. Some merchants include gas stations and pharmacies, the exchange said. Luno users can now trade online or at brick and mortar stores for up to $5,740 per transaction by scanning Zapper's QR code. Zapper CEO Mike Bryer said the partnership with Luno will add about 5 million South African users to Zapper's network.
On September 23rd, according to Cointelegraph, South Africa is rapidly becoming the digital asset hub of Africa. Ben Caselin, chief marketing officer of Johannesburg-based cryptocurrency exchange VALR, said that South Africa is becoming the gateway to the African market due to its good rule of law and independent judicial system. In April, the South African Financial Conduct Authority (FSCA) granted VALR a Crypto Asset Service Provider (CASP) license. According to Statista, South Africa's crypto...
South Africa was the first African country to license cryptocurrency exchanges. In 2021, the country explored a separate regulatory framework for cryptocurrencies and plans to implement it by 2022, with the goal of introducing final regulations that year. According to a report by Statista, the South African cryptocurrency market is expected to reach $246 million in revenue in 2024 with an annual growth rate (CAGR 2024-2028) of 7.86% and reach $332.90 million by 2028.
On September 12, the Ministry of Commerce actively promoted the negotiation and signing of the Framework Agreement on Economic Partnership for Common Development with African countries. During the summit, China has reached an agreement on the Framework Agreement with 22 African countries including Ethiopia, Burundi, Equatorial Guinea, Congo (Brazzaville), Congo (DRC), Gabon, Djibouti, Zimbabwe, Guinea-Bissau, Comoros, Côte d'Ivoire, Liberia, Libya, Madagascar, Mauritania, South Sudan, Sierra Le...
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