Crypto in Africa: Rising interest in Bitcoin, banks pushing back
Interest in Bitcoin is increasing in South Africa and Uganda, and banks all over the continent are fighting against the rush to cryptocurrencies.
Interest in Bitcoin is increasing in South Africa and Uganda, and banks all over the continent are fighting against the rush to cryptocurrencies.
The South African Reserve Bank has issued a consultation paper that gave a detailed assessment of the benefits and risks of cryptocurrencies.
The year has been quite active for the crypto community in Africa. More start-ups continue to emerge, and politicians are taking up these new technologies.
The South African Cricket Board twitter account suffered an attack earlier this week. According to reports, unknown persons hacked the account to run a bitcoin-related scam.
The South African government has established a crypto assets regulatory working group to investigate cryptocurrencies and blockchain concepts.
The year started with great promise for the cryptocurrency in Africa, and gains were made in South Africa, Nigeria, Kenya, Ghana, Zimbabwe, and Uganda.
The African crypto space is still strong, with Bittrex and VALR partnering on a new exchange, and Veritaseum expanding their offers.
The National Treasury and The Reserve Bank of South Africa have published a consultation document on overhauling national payment systems, in a move that could pave the way for greater integration of cryptocurrencies in the national economy.
With this new technology spreading to the core of Africa, some are using it to spread joy while others use it to feed their criminal appetites.
It’s an interesting week for the cryptocurrency space in Africa this week. The continent has seen more governments profess their support for cryptos publicly, while others are planning to create a regulatory framework for the market.
Africa has experienced significant growth of cryptocurrency-related activities, and more countries are opening up their doors to crypto innovations and investments.
Blockchain and cryptocurrency adoption in Africa is steadily increasing with new countries in the continent getting onboard.