Central Bank of Nigeria Governor Defends Decision to Exclude Crypto Players, Says the Order Is ‘in the Best Interests of Nigerians’

Central Bank of Nigeria Governor Defends Decision to Exclude Crypto Players, Says the Order Is 'in the Best Interests of Nigerians'The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele has defended the apex bank’s decision to exclude cryptocurrency transactions from the banking ecosystem. In his testimony before the Nigerian Senate, Emefiele claimed that the February 5 directive is “in the best interests of Nigerians.” Crypto Not Money Immediately following the announcement of the […]

Cryptocurrency Adoption Passes Another Milestone Surpassing 100 Million Users

Cryptocurrency Adoption Passes Another Milestone Surpassing 100 Million UsersAccording to a new study conducted by Crypto.com, the total number of global cryptocurrency users has surpassed 100 million for the first time ever. The study, which measured the cryptocurrency marketplace’s size using onchain metrics, survey analysis, and internal data, recorded 106 million cryptocurrency users in January 2021. January’s Bitcoin Rally Accumulated a 15.7% Jump […]

Thailand Authorities Are Targeting Japanese Crypto Holders to Boost Tourism

Thailand Authorities Are Targeting Japanese Crypto Holders to Boost TourismThailand seems to be interested in catching Japanese crypto holders’ attention via tourism. The country wants to establish a crypto-friendly touristic hotspot and the first targeted country is the nation of the rising sun. Program Aims to Add New Segments With ‘High Spending’ Per Bangkok Post, the Tourism Authority of Thailand (TAT) seeks to put […]

Nigeria Crypto Ban: Bitcoin Sells for $76K as Deposits on Centralized Exchanges Plummet

Nigeria Crypto Ban: Bitcoin Sells for $76K as Deposits on Centralized Exchanges PlummetAccording to a website that tracks the price of bitcoin across the globe, the crypto asset’s selling price in Nigeria as of February 18 stood at $ 76,000. At this price, the crypto asset is selling for $20,000 more than the approximately $52,000 that most cryptocurrency exchanges are currently quoting. The Impact of the CBN […]

Nigeria Crypto Ban: Stakeholder Body, Politicians Assail Central Bank’s Directive to Financial Institutions

Nigeria Crypto Ban: Stakeholder Body, Politicians Assail Central Bank's Directive to Financial InstitutionsA body representing cryptocurrency and blockchain stakeholders in Nigeria has joined other crypto industry players in assailing the recent Central Bank of Nigeria (CBN) directive to banks. The CBN order, which seeks snuff out crypto entities from the banking system, took effect on February 5, 2020. Not Just a Mere Reiteration In a statement, the […]

Central Bank of Nigeria Denies It Has Placed New Restrictions on Cryptocurrencies — Uses Debunked Claims to Justify New Directive

Central Bank of Nigeria Denies It Has Placed New Restrictions on Cryptocurrencies — Uses Debunked Claims to Justify New DirectiveFollowing the outcry over the Central Bank of Nigeria’s latest directive that targets cryptocurrencies, the institution has reaffirmed its stance with another statement. In the latest five-page document, the CBN insists that this directive is intended to protect the country’s financial system from the “risks” that are associated with cryptocurrencies. Debunked Claims Still, the central […]

Central Bank of Nigeria Orders Banks to Close Accounts of Crypto Clients

Central Bank of Nigeria Orders Banks to Close Accounts of Crypto Clients as Remittances via Traditional Corridors Drop by 97%The Central Bank of Nigeria (CBN) has circulated a letter directing banks and financial institutions to identify and close accounts of cryptocurrency transacting entities. The directive, which took immediate effect, threatens “severe regulatory sanctions” to financial institutions that fail to comply. Banks Taking Immediate Action Immediately following the letter’s publication, some banks and other financial […]

African Hip Hop Artist Davido ‘Thinking of Starting a Bitcoin Trading Company’

African Hip Hop Artist Davido 'Thinking of Starting a Bitcoin Trading Company'Popular Nigerian hip hop artist Davido has sparked off a buzz about crypto assets after tweeting about his intention to start a bitcoin trading company. With the short tweet, Davido becomes the latest African celebrity to express interest in starting a crypto business. Senegalese singer Akon is another prominent African personality to embrace crypto assets. […]

Nigerian Youth Propels the Country to the Top of Google Bitcoin Search Rankings

Nigerian Youth Propels the Country to the Top of Google Bitcoin Search RankingsNigeria, one of the biggest cryptocurrency markets in the world, recently emerged as the country with the highest number of bitcoin searches globally, according to Google Trends data. The data shows that the West African country has a search score of 100, which is more than double that of its nearest rival. Youth-Driven Interest According […]