The National Security Adviser, Nuhu Ribadu, and the African Union Counter-Terrorism Centre have raised the alarm over the growing use of social media, cryptocurrencies and emerging technologies by terrorist groups to recruit members, finance operations and coordinate attacks across West Africa and the Sahel. They gave the warning in Abuja on Tuesday at a three-day…
The case comes as the liquidation of iCE3X remains unresolved more than five years after the platform shut down. (Image source: iStock) A crypto-currency trader is challenging a R2.85 million claim brought by the liquidators of collapsed South African crypto exchange iCE3X, arguing the funds he withdrew from the platform were his own money, rather…
First National Bank (FNB) has officially expanded its wealth management ecosystem by integrating cryptocurrency trading into its share trading platform through a strategic partnership with local crypto exchange VALR. Starting from as little as R10, FNB clients can now buy and sell digital assets directly through the bank’s existing investment products, including Share Saver, Share…
Luno’s Marius Reitz Luno has opened a new front against draft cross-border crypto rules from national treasury and the South African Reserve Bank, arguing that they treat stablecoin payments inconsistently with South Africa’s international commitments. Under the draft, Luno says, all payments in stablecoins – crypto tokens pegged to a currency, usually the US dollar…
GoTyme Bank has confirmed it has signed up to Catastrophe, the industry coalition campaigning against draft rules that would bar South African companies from making cross-border payments in cryptocurrency, saying the country’s regulatory framework should apply “consistent standards to equivalent financial activities, regardless of the technology used”. “This is not a position on whether crypto…
The US senate failed on Tuesday to advance comprehensive cryptocurrency legislation backed by President Donald Trump in a major blow for digital asset companies and Republicans who had championed the bill for months. The bill, called the Clarity Act, fell 10 short of reaching the 60-vote threshold needed to advance most legislation in the 100-seat…
The Senate on Tuesday voted to block the Clarity Act from advancing, dealing a major blow to the crypto industry’s push for a comprehensive market structure framework. The procedural vote leaves the bill stalled on Capitol Hill after months of negotiations aimed at building bipartisan support. Republican leaders had released a revised version of the…
South Africa’s biggest regulated crypto platforms have taken their fight public, forming a coalition and launching a petition against draft rules that would bar local companies from making cross-border payments in crypto assets. The coalition has given itself the pointed acronym Catastrophe — Crypto Asset Taskforce for Advancing Sound, Technology-Neutral Regulation for Opportunity, Prosperity and…
The Clarity Act, which seeks to establish a U.S. federal framework for digital assets, is likely to pass given broad support from crypto firms, law-enforcement groups and several banks, Coinbase CEO Brian Armstrong said. The legislation was ready to be supported by the Senate, Coinbase CEO Brian Armstrong told CNBC’s “Squawk Box Asia” on Thursday,…
The Johannesburg High Court found that crypto-currency is subject to current forex rules. (Graphic: Nicola Mawson | Freepik) A new crypto coalition, called CATASTROPHE, warns proposed cross-border regulations could threaten thousands of jobs, hit millions of crypto holders and cost the fiscus billions of rand in tax revenue. It is calling on National Treasury and…
