Africa Crypto Week Summary: Ghana to Implement Cryptocurrency Regulations, Binance to Enforce Stricter Policies in South Africa, and Nigeria to Intensify Enforcement Actions
Africa Crypto Week Summary: Ghana to Implement Cryptocurrency Regulations, Binance to Enforce Stricter Policies in South Africa, and Nigeria to Intensify Enforcement Actions
This week’s Africa cryptocurrency news reports that Ghana is establishing crypto legislation for 2025, while Binance is enforcing stricter controls in South Africa. Nigeria is intensifying its efforts against unlicensed enterprises.
This week’s Africa cryptocurrency news reports that Ghana is establishing crypto legislation for 2025, while Binance is reinforcing restrictions in South Africa. Nigeria is intensifying its efforts against unlicensed enterprises.
The African regulatory framework is evolving to accommodate the permanence of the cryptocurrency industry. Ghana intends to implement regulations for cryptocurrency. Binance intends to change its compliance protocols to comply with new regulations in South Africa effective from the end of April 2025. Nigeria is intensifying its enforcement against unregistered cryptocurrency companies, bringing accusations against Afriq Arbitration System (AAS) and its chief executive officer.
This week’s significant developments in the African continent are as follows:
Ghana Cryptocurrency Update: Central Bank Initiates Regulatory Measures for Cryptocurrency
The National Bank of Ghana has established Sept 2025 as the due date for regulating digital currencies, including prominent Solana meme coins. Governor Johnson Asiama announced during a symposium in Washington, DC, the country’s intention to regulate this business.
This action is part of a national transition towards uniform regulations for cryptocurrency firms. Nigeria has recently implemented cryptocurrency laws to conform to international regulations governing cryptocurrencies and securities.
This transition signifies a continent progressively embracing the permanency of cryptocurrency. The sector has been established for more than ten years, and governments are acknowledging its existence.
South Africa Cryptocurrency Update: Binance Implements New User Guidelines for Regulatory Compliance
Binance, a prominent exchange, has declared enhanced criteria for its customers in South Africa from April 30.
This ruling followed the enforcement of the Travel Rule by South Africa’s Financial Intelligence Centre.
Nigeria Cryptocurrency Update: Escalation of Actions Against Unregistered Cryptocurrency Exchanges
The Economic and Finance Crimes Commission (EFCC) of Nigeria is amplifying its enforcement actions against cryptocurrency companies.
Charges have just been filed against Afriq Arbitration Systems (AAS) and its CEO, Jesam Michael. The bureau asserts that the digital currency ramp perpetrated investment fraud, resulting in customer losses of almost $850,000.
