This week’s Crypto Africa Weekly Review features Nigeria as the central topic, from the ongoing executive conflict with the largest CEX to the leadership turmoil at the top blockchain association. But right after that, we take a look at the latest South African crypto regulatory updates.
TD Markets Receives Cryptocurrency License Approval
South African brokerage TD Markets Got it A crypto asset service provider licensed by the country’s financial sector regulator. TD Markets has obtained this license to provide a secure and regulated platform for cryptocurrency trading within South Africa.
South Africa’s regulatory bodies are ahead of most similar government bodies across Africa. This licensing regime is necessary to set standards for brokerage firms and protect consumers.
Nigeria SiBAN’s Leadership Crisis
Mr. Obinna Iwuno, Stakeholder Chairman of the Society for Blockchain Technology in Nigeria (SiBAN) paid a courtesy visit. @NigComSat1RChief Executive Officer, @nk_amadiThe meeting highlights efforts to strengthen the integration of blockchain technology in Nigeria’s satellite communications sector. pic.twitter.com/ZJtcsAEs5h
— NIGCOMSAT (@NigComSat1R) June 6, 2024
There is a leadership crisis at SiBAN, Nigeria’s blockchain association.
According to the latest reportThe Board of Trustees (BoT) has singled out former President Obina Iuno for alleged wrongdoing.
They have since expelled him. The former president, however, denies any wrongdoing and says the expulsion was a move to illegally seize control of the association’s leadership.
Nevertheless, an independent panel found Iuno guilty, and there is now a management committee overseeing SiBAN. Iuno is not going away without a fight and is now threatening legal action.
CryptoFest 2024 Preparations Begin
preparation CryptoFest 2024 is in its final stages. The event organizers call it a celebration of Web3 innovation on the continent. CryptoFest is in its sixth year and aims to be a notable global crypto forum.
The event will take place at Cape Town’s iconic DHL Arena.
The festival kicks off in less than a month, with speakers on crypto on stablecoins, crypto payments, regulatory approaches, cultural inclusion, and more.
Much work needs to be done to drive adoption across South Africa and the continent as a whole. CryptoFest 2024 looks set to be a hub for networking and collaborative action among various stakeholders.
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Will Nigeria Free This Binance Executive? Mansa and Bitmama Join Hands
Other Trending African Cryptocurrency News:
- Tigran GambarianThe Binance executive has been incarcerated in a Nigerian prison since February 2024. It has emerged that the US government is urging Nigeria to release Gambarian on humanitarian grounds. The Binance employee is reportedly sick and his health has worsened in recent weeks. Several diplomats, including Secretary of State Antony Blinken, are involved. Nigerian authorities are accusing the employee and the cryptocurrency exchange Binance of tax evasion, money laundering, and manipulation of the naira.
- Don’t finish itNigerian blockchain platform partners with DeFi platform Mansa. According to the press release, the goal is to improve cross-border payments in more than 18 African countries. In this agreement, Mansa will provide liquidity to all pre-funded accounts. This decision will most importantly be in line with their mission to close the liquidity gap in the emerging markets they have entered. Bitmama, on the other hand, will issue virtual crypto cards and track cross-border payments with FAS.
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Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes only and does not constitute investment advice. You may lose all your capital.