Crypto Oracle, Author at Cryptotimes Africa

News

The Bank for International Settlements has released an executive summary of the recommendations for global stablecoins.

by Crypto Oracle March 1, 2024

In an executive summary published on February 29, the Bank for International Settlements (BIS) made proposals for the management, control, and supervision of global stablecoin arrangements. Although the international financial institution recognized that stablecoins may improve the effectiveness of financial services, they…

News

PARTNERSHIP | Carry1st and Electronic Arts Collaborate to Expand EA SPORTS FCTM Mobile Throughout Africa by Providing Cryptocurrency-Powered In-App Purchases

by Crypto Oracle March 1, 2024

Leading game publisher in Africa, Carry1st, in collaboration with Electronic Arts Inc. (EA), the world leader in digital interactive entertainment, launches EA SPORTS FCTM Mobile top-ups on the Carry1st Shop. Gamers can now utilize their preferred payment option, including cryptocurrency, to replenish…

News

REGULATION | Crypto Exchanges to Cease Selling StableCoin in Nigeria Despite Seeming Repression

by Crypto Oracle February 29, 2024

According to a recent report, a number of cryptocurrency businesses in Nigeria—including Binance—are stopping to buy USDT and USDC stablecoins using Naira. A witness at the conference told a local magazine, "There was a meeting of crypto founders on Tuesday [February 27…

News

FINTECH | Moya Money in South Africa is the Most Recent Fintech to Provide Payment Options for the Region’s Freelancers

by Crypto Oracle February 28, 2024

Moya Money, a finance firm based in South Africa, has reopened with an enhanced product offering and a new website aimed at small enterprises and independent contractors. Moya Money, which was founded in March 2021 by 25-year-olds Sabica Pardesi and Thulani Masebenza,…

News

Regulation | After “Significant Forex Losses,” Kenya’s Major Electric Utility Parastatal Receives Legal Approval to Accept Payments in Dollars

by Crypto Oracle February 28, 2024

Kenya Power Company, whose recent performance has been negatively impacted by foreign exchange losses, has achieved a major victory with the regulator and government approving it to bill some of its customers in U.S. dollars. Local reports state that the business is…

Bitcoin News

Four New Options for Issuing Digital Assets Secured by Bitcoin

by Crypto Oracle February 27, 2024

While a number of blockchain networks have been using the term "issuing blockchain-based digital assets" as a catchphrase for some time now, Bitcoin has fallen behind because of its emphasis on digital currency. Nevertheless, the idea has now been incorporated into the…

News

RULES | Namibia and Kenya The Financial Action Task Force (FATF) has added new African countries to its Grey List.

by Crypto Oracle February 26, 2024

Kenya and Namibia have been added to the Financial Action Task Force's (FATF) "grey list" of nations that need closer scrutiny because of insufficient steps taken to prevent money laundering and the funding of terrorism. Kenya and Namibia were added by the…

News

PIVOT | Sun Exchange, a bitcoin-powered energy fintech company in South Africa, switches from crowdsourcing to institutional financing of solar projects

by Crypto Oracle February 26, 2024

An institution-focused strategy will replace the first Bitcoin-powered crowdsale methodology utilized by South African energy-fintech firm Sun Exchange to finance small-scale solar projects. When the company was founded in 2015, it first looked for organizations, including businesses and schools, that had feasible…

Bitcoin News

Uncovering a $100 million cryptocurrency scheme in Myanmar What is happening?

by Crypto Oracle February 25, 2024

A fresh fraud case has been revealed by Midjourney Chainalysis. The scam involves a single organization that operates out of a compound in Myanmar and defrauded people out of over $100 million in less than two years. The company carried out a…

News

REPORT | Cryptocurrency-Based Money Laundering Drops Significantly in 2023, Fiat Off-Ramping Is “Important in AML,” As Chainalysis puts it

by Crypto Oracle February 24, 2024

An upcoming analysis by Chainalysis shows that in 2023, illegitimate addresses transmitted $22.2 billion worth of cryptocurrencies to services—a substantial decline from the $31.5 billion sent in 2022. A portion of this decline could be linked to a general decline in the…