News
The proposed partnership aims to build a crypto-friendly digital city similar to the virtual free zone in Dubai.
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Nigeria News
Nigeria is seventh most populous country, and most populous in Africa. Nigeria also has the largest economy in Africa, with more than $500 billion of nominal gross domestic product. The Word Bank considers Nigeria to be an emerging market and is widely seen as a perspective economy. Still, it ranks 152nd in the Human Development Index and has a large variety of problems regarding the lack of education, organized crime and human rights. Bitcoin is legal in Nigeria, but the Nigerian SEC, or Securities and Exchange Commission, warned citizens about cryptocurrency investments being risky and sometimes even fraudulent. However, the Nigeria Deposit Insurance Corporation and the Central Bank of Nigeria have plans to adopt cryptocurrency technology and have several sub-committees working on implementing blockchain into governmental insurance and financial services.
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The Google trends data for the popular search terms in 15 countries showed that “Ethereum” searches outscored “Bitcoin” in 14 of them.
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Over 9,500 people around the world were surveyed for Block’s 2022 Bitcoin report, which showed that more optimistic individuals possessed a greater self-reported knowledge level of the crypto.
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BCAT Africa 2022 aims to increase crypto awareness on the continent at a time when more Africans are turning to digital assets.
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Africa’s booming crypto ecosystem welcomes a new exchange platform MARA with backing from the likes of Coinbase Ventures and Alameda Research.
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Nigeria’s central bank has upgraded its eNaira to steer the country away from crypto even after a UN report stated that restrictions on digital currencies are stifling the nation’s fintech sector.
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One of the main reasons investors across the globe seek to diversify traditional assets into crypto is to counter rising fiat inflation.
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From Bolivia to China, governments have sought to restrict crypto-related activity for various reasons and with different tools.
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"We're also excited that when working with central banks, we can do it in a way that is through regulation and compliance," said Bitt CEO Brian Popelka.
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El Salvador’s Bukele arguably brought some 21st-century innovation and luster to a poor Central American land heavily dependent on remittances.
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Personal accounts with large multi-day inflow and outflow are being tracked at the behest of the country’s central bank.
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In February, the CBN banned banks from servicing crypto exchanges in the country, citing concerns including volatility, money laundering and the financing of terrorism.
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Nigerian government officials have big expectations regarding the eNaira.
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The Nigerian central bank digital currency was originally slated for launch earlier this month, but it has been delayed.
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eNaira will continue to circulate alongside its fiat counterpart, promising a faster, cheaper and more secure option for monetary transactions.
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