Within the newest Africa crypto information, Binance praises Kenya’s crypto regulation progress however warns in opposition to heavy taxes. In the meantime, VALR is partnering with MoonPay to develop entry to extra fiat currencies. Nigeria jails 9 Chinese crypto scammers for one 12 months.
A Binance govt has praised Kenya’s progress in regulating crypto however warned in opposition to punitive taxation. In South Africa, the main crypto change, VALR, has partnered with MoonPay, a crypto funds supplier, to enhance world fee integration. In the meantime, Nigeria has jailed 9 Chinese nationals for perpetrating crypto scams throughout the nation.
Let’s discover these crypto tales from the African continent this week:
Kenya Crypto News: Binance Lauds Regulatory Progress
Binance, a worldwide change, has praised Kenya’s efforts to create a regulatory framework for the crypto business.
Larry Cooke, head of authorized for Africa, famous the progress made on the Digital Belongings Service Suppliers (VASP) Invoice earlier than parliament.
(Supply)
“The Virtual Asset Service Providers Bill is a game-changer, but more than that, it’s a symbol of Kenya’s willingness to lead Africa in responsible innovation,” mentioned Cooke. “We have been working closely with regulators, parliamentarians, and educators because the crypto ecosystem cannot thrive without trust.”
Nonetheless, the Binance govt cautioned in opposition to imposing punitive crypto taxes on the business.
He believes Kenya can “lead the continent with smart, enabling policies.”
Kenya has step by step turn out to be one of the vital vital crypto markets in Africa.
The introduction of the Kenya Digital Belongings Service Suppliers (VASP) Invoice has set the stage for a dramatic shift within the crypto ecosystem. With the invoice paving the best way for ‘mainstream’ crypto licenses, the enterprise panorama for startups within the Digital Belongings house is about to… pic.twitter.com/yrPXkXyihG
— Kenya Blockchain & Crypto Convention (@KBCC_01) February 18, 2025
The elevated utilization has led legislators to think about crypto laws for the primary time. As crypto additionally finds adoption, extra Kenyans will discover and even contemplate investing in among the finest meme coin ICOs.
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South Africa Crypto News: VALR and MoonPay Partnership
Two main crypto platforms, VALR and MoonPay, are partnering to boost crypto entry for his or her customers.
VALR, the main crypto change in Africa by commerce quantity, is becoming a member of arms with MoonPay to leverage its fee infrastructure.
The combination will enable VALR to assist 34 new fiat currencies, together with the Kenyan Shilling and the Nigerian Naira. This deal will enable traders to get publicity to the subsequent 1000X cryptos.
“We are thrilled to partner with MoonPay to enhance our platform’s accessibility for users worldwide,” mentioned Farzam Ehsani, Co-Founder and CEO of VALR. “This integration empowers our global community with efficient access to cryptocurrencies, aligning with VALR’s vision of building a financial system that reflects the oneness of humanity.”
VALR already has over 1 million common customers and tons of of company purchasers.
Increasing this consumer base, particularly as crypto utilization quickly grows in Africa, is a significant purpose for this partnership.
DISCOVER: 20+ Subsequent Crypto to Explode in 2025
Nigeria Crypto News: 9 Chinese Scammers Jailed
The Nigerian anti-graft company has introduced the jailing of 9 Chinese nationals accused of crypto and romance scams.
The Financial and Monetary Crimes Fee said that the people pleaded responsible to varied crimes and obtained one-year jail sentences and fines.
BREAKING NEWS: Lagos Courtroom Jails 9 Chinese for Cyber-t£rrorism and Web Fraud in Lagos
Their names are: LI Dong, Deng Wei Qiang, Huang Bo, Xiong Zhen, Lai Rui Feng , Zhao Xiao Hui, Lui Hai Rong, Lui Gang and Du Ji Feng. pic.twitter.com/QI02J7Evvq
— Nigeria Tales (@NigeriaTales) June 10, 2025
Crypto scams are an unlucky side of a digital, borderless fee system.
1000’s of Nigerian nationals are nonetheless reeling from the collapse of the CBEX change, which seems to be a classy Ponzi scheme.
It’s important that authorities goal precise scammers and fraudulent schemes somewhat than the complete crypto business.
Crypto stakeholders in Nigeria hope this distinction might be made in future crackdowns.
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Africa Crypto News: Binance Praises Kenya, Nigeria Jail Scammers
- Kenya crypto information: Binance applauds Kenya’s crypto regulation progress
- South Africa crypto information: VALR and MoonPay companions to spice up crypto entry
- Nigeria crypto information: 9 Chinese nationals jailed for 1-year for crypto scams
The submit Africa Crypto News Week in Review: Binance Praises Kenya, VALR and MoonPay Partner, Nigeria Jails 9 Chinese Scammers appeared first on 99Bitcoins.
