Crypto Oracle, Author at Cryptotimes Africa

News

Regulating rapidly expanding virtual assets: Financial Action Task Force (FATF) calls on nations to create regulatory frameworks

by Crypto Oracle July 12, 2024

According to the Financial Action Task Force (FATF), scammers, terrorist organisations, and other illicit actors continue to utilise virtual assets to fund the spread of weapons of mass destruction. According to a recent study from FATF, "the DPRK continues to steal or…

News

REPORT | Egypt Comes 3rd Among the Top Funded MENA Countries in H1 2024

by Crypto Oracle July 12, 2024

In June 2024, startups in the Middle East and North Africa (MENA) area raised $116 million, a 59% decrease from May 2024. $15 million was raised by four Egyptian businesses, which is the second-highest amount after the United Arab Emirates (UAE), whose…

News Startups

APPLICATION CALL: The First-Ever Rwanda-Based, Sector-Agnostic Innovate Africa Fund Is Seeking to Invest ~$50,000 in 20 Early-Stage Startups

by Crypto Oracle July 11, 2024

With an initial $2.5 million rollout, Innovate Africa Fund, an angel investment fund, assists early-stage creators who are moving their firms from conception to product. The sector-agnostic fund, co-founded by Kristin Wilson and Christian Idiodi, intends to assist up to 20 entrepreneurs…

News

900K users joined TonKeeper, the top TONNE blockchain wallet, in May 2024 alone, drawing in over 1.3 million users in Nigeria.

by Crypto Oracle July 11, 2024

The top wallet on the TONNE blockchain is TonKeeper, which lets users buy eSIM and gift cards with cryptocurrency in addition to providing staking services and private dApp browsing. According to Oleg Andreev, CEO of TONNE App, a directory of all the…

News

REGULATION | Paxful Co-Founder Pleads Guilty to Accusations of Deception and Shoddy Anti Money Laundering Practices

by Crypto Oracle July 10, 2024

Former Paxful Chief Technology Officer (CTO) and co-founder Artur Schaback has entered a guilty plea to criminal offences in the US. The Department of Justice (DOJ) in the United States declared on July 8, 2024, that Schaback had entered a guilty plea…

News

FUNDING | After seeing a 10x increase in revenue and around 500K user growth, Tanzanian fintech company Nala raises $40 million in Series A.

by Crypto Oracle July 10, 2024

Pan-African remittances startup Nala has secured $40 million in a series A round led by CEO Benjamin Fernandes, making it one of the largest in African tech history. Acrew Capital, a venture capital firm based in San Francisco, led the round. Other…

News

REGULATION | According to the Director-General of NITDA, Nigeria is building its own blockchain, called “Nigerium,” to protect national security.

by Crypto Oracle July 9, 2024

In order to protect national security, the National Information Technology Development Agency (NITDA) will create the native blockchain known as "Nigerium," according to NITDA Director-General Kashifu Inuwa Abdullahi. In addition to stating that the ultimate objective is to get the public and…

News

REGULATION | Digital Asset Operators in Nigeria Required to Establish Local Presence in Latest Eligibility Requirements

by Crypto Oracle July 9, 2024

In order to be permitted to conduct business in the nation, Virtual Asset Service Providers (VASPs) must open a local office, according to the Nigeria Security Exchange Commission (SEC Nigeria). The Framework on Accelerated Regulatory Incubation Programme (ARIP) For The Onboarding Of…

News Women in Crypto

REPORT | According to a 2023 report, Kenyan women are the most involved in cryptocurrency in Africa and rank third globally.

by Crypto Oracle July 8, 2024

A recent 2023 research states that women hold 42% of cryptocurrency in Kenya, placing the nation first in Africa and third globally in terms of "crypto equality." In order to examine the discrepancy in gender representation in leadership and influential roles within…

News

Regulators in South Africa, the FSCA, are pursuing 30 cryptocurrency companies that are operating without licences.

by Crypto Oracle July 8, 2024

Thirty investigations into illicit financial services related to cryptocurrency are presently being conducted in South Africa by the Financial Sector Conduct Authority (FSCA). This is supported by the organization's most recent regulatory activities report, which lists the safeguards in place to allow…