BitOasis disclosed laying off about five percent of its employees, which the CEO and Co-Founder, Ola Doudin, said is equivalent to nine employees across its offices in Dubai, Abu Dhabi, and Amman.
The move seems like a U-turn after the regulator issued a warning to financial firms a month ago warning them against facilitating digital asset transactions.
CAR's President Faustin-Archange Touadera tweeted that the democratization and tokenization of the country's resources have "tremendous possibilities."
At the BSV Global Blockchain Convention, a panel of experts from Africa shed light on how blockchain technology can enable the continent to harness its resources, eradicate corruption and poverty and be on the frontline in the world of technology.
KenGen PLC is luring miners with cheap geothermal energy and claims it has already been approached by a number of miners from across Europe and the United States.
Geoffrey Weli-Wosu and Mohammed Ibrahim Jega went on stage at the BSV Global Blockchain Convention to talk about how their company is getting governments and enterprises to adopt BSV.
COBAC reiterated that the ban was put in place to ensure financial stability in the region, and as part of it, banks are prohibited from holding, exchanging, or converting digital currencies.
Akon is pushing for positive change through digital currencies via his Akoin project, and as he told CoinGeek Backstage, he believes Africa is in a prime position for advancement through adopting digital currencies.
The International Monetary Fund says the move raises major legal and economic policy challenges, even as experts, political and economic leaders question the country’s ability to implement BTC payments.
The central bank said that digital currencies aren’t regulated, and it hasn’t licensed any firm to offer related services while reminding the public of Bitcoin’s risks.
The CAR passed a law that allows citizens to make payments in BTC, but the central bank has revealed it was caught unaware even as IMF issued a warning.