KPMG urged the Nigerian bank to adopt a blockchain and urged the latest information in encryption Africa, calling for strict compliance from April 2025.
The African continental environment is always full of new encryption development. BIG 4 audit company KPMG urged Nigeria Bank to cooperate with a blockchain company. Lisk Innovation Hub has completed educational initiatives for dozens of African encryption new companies, and South African regulators are pressing to simplify the US encryption process.
The following misses this week is as follows.
Nigerian encryption news: KPMG urges local banks to accept block chains.
There is a global audit company KPMG encouragement Nigerian financial institutions can accept and cooperate with cryptocurrency companies. The auditor urged the bank to work with the encryption company to overcome the limitations of the two types of institutions.
KPMG believes that cooperation is needed because banks must be exposed to financial development of finance. Encryption is at the forefront of this change and the bank is trying to catch various fintech implementation. Meanwhile, many encryption platforms can take advantage of traditional institutions’ expertise in risk management, financial fraud and compliance practices.
The two industries may seem to be essentially opposed by the blockchain spirit of decentralization. Nevertheless, there are many things to learn from each success.
Recently, even though I recently introduction Limited restrictions on encryption transmission. This limit is specifically associated with restrictions that Binance users cannot participate in encryption prizes and AirDrop campaigns.
Nigeria’s Binance users, including people who want to buy some Solana’s best memes coinsThey reported that they could not access these incentives. The authorities did not openly mention this problem, and the basis for this limit is still unknown.
Development is a notable escalation in the love hate relationship between the Nigerian authorities and encryption exchange. In 2024, the arrest of TIGRAN GAMBARYAN, the arrest of Biony’s executives, brought about international debate, and the Mega Exchange escaped the latest market in Africa.
At the end of the year, the tension was relieved, and Gamveran was released and Binance resumed the operation. Encryption stakeholders in this country will evaluate the meaning of the industry.
African encryption news: LISK Incubation Hub completes the first training initiative.
Dubai -based blockchain platform lisk presentation The first round of the blockchain incubation training initiative for 23 African new companies is completed. The platform allocated a total of $ 196,000 to new companies that expect innovation in the entire continent.
For new companies that benefited from these efforts, the major insights were able to expand the value of the market and tokenized assets.
Some benefit startups include South Africa’s Stablecoin platform TATA Imali, Nigeria’s Defi platform Trendx and Kenya’s real estate blockchain platform Nomachain.
LISK will open an application for the second applicants from May 2025. This effort aims to build up the next -generation blockchain innovators in emerging markets to build capabilities and improve young new companies.
South Africa encryption news: The authorities strengthen the regulations for the encryption asset service provider.
Encryption asset service provider from April 30, 2025 In South Africa, we will face more stringent compliance requirements.. These requirements will begin as part of Differive 9, which is effective as a response to the grailist by the FITF (Financial Action Task Force).
The main requirement of the service provider is the “Travel Rule,” which requires the transaction details for domestic and border transmission. These details include the name of the trading party, the identity details and the residential address. In addition, service providers are responsible for performing due diligence before dealing with transactions.
This regulation is mainly for centralized exchanges and fintech service providers. Crypto’s peer -to -peer side clearly makes it difficult to execute when the parties do not use the service provider in accordance with these regulations.
last week, Crypto Exchange Luno recommended that South African authorities would re -classify encryption into land assets. Expansion of exchange providers. Marius Reitz, general manager of Africa, thinks that institutional investors are difficult to invest in encryption due to their current name.
Luno urges some classification to the Treasury of this country. The best encryption to buy With coastal assets. This name will make it clear to the encryption asset service provider. The current name of the encryption asset does not explicitly classify it as a land asset, which means that there is a legal concern about exporting the funds out of the country without the permission of the Treasury.
Designating encryption assets as land assets means that there is no risk of paying marine/land transfer and surrounding laws.
Main takeout
- KPMG calls for a blockchain from Nigeria’s financial institutions.
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LISK is complete The first round of the blockchain incubation training initiative for 23 African new companies -
South Africa encryption asset service provider I will face Strict Regulations Compliance Requirements from April 30, 2025