Africa is the second largest continent in the world in terms of both territory and population. There are 55 states located on the continent. Economies in Africa differs from country to country. In Africa, cryptocurrency tends to be sold with a large trade margin which can even reach 100% due to several reasons. Firstly, Bitcoin in Africa is very difficult to mine because of the climate and lack of infrastructure. Also, cryptocurrency is in big demand in Africa as national currencies are vulnerable to hyperinflation. Besides that, since there are only a small number of virtual currency retailers they are able to set high prices. The relative financial stability of digital money and the opportunities for profit make cryptocurrencies very popular in Africa.
Law firm Cadena Legal said that the guidance released by the Australian Taxation Office is “non-binding” and must be treated as “toilet paper.”
The CEO and co-founder of neobank Canza Finance claims that utilizing Baki for foreign exchange trades in Africa creates a hub for African businesses to participate in intra-African and FX trades at a reduced cost.
The deal aims to enable faster, cheaper payments between 27 African countries, working with three Onafriq partners.
Kenya might become the first country in the world where the industry’s representatives would develop the regulatory framework for crypto.
The Kenyan government plans to roll out its digital identification system in December 2023 after the testing period, which will take a couple of months.
A small island nation in the Atlantic Ocean grapples with a cash economy influenced by tourism, remittances and limited resources. Can Bitcoin help?
Advocates for the Bitcoin Lightning Network and decentralized protocol Nostr funded Kweks’ Kilimanjaro climb.
The committee’s recommendations included having the Kenyan government consider implementing a comprehensive framework for digital assets and virtual asset service providers.
The guests on Episode 31 of Hashing It Out believe traditional finance has hurt innovation in the African fintech space and that cryptocurrency can breathe some life into it.
Opera’s new in-browser, noncustodial wallet runs on the Celo blockchain and targets the platform’s African user base for P2P stablecoin transactions.
GT Igwe Chrisent said Africa must erase poverty and help people into the middle class to drive faster blockchain technology adoption.
As part of the acquisition, Qala is rebranding as the ₿trust Builders Programme, aiming to drive development and education across the Global South.
Christian Duffus, founder of Fonbnk, believes a lack of basic infrastructure such as telecommunications is slowing down cryptocurrency adoption in Africa.
As anti-French sentiment rides high in West Africa, Bitique opens its doors, the “Bitcoin Mastermind” conference beckons and more nodes come online to verify the Bitcoin blockchain.
Somalia has shut down crypto-friendly messaging app Telegram and gambling site 1XBet, while cryptocurrency investments aren’t banned.