News
Kenya High Court Declares WorldCoin Operations Illegal, Orders Immediate Deletion of Biometric Data
In a landmark ruling, the High Court of Kenya has declared the data collection activities of the WorldCoin Foundation illegal, ordering the organization to permanently delete all biometric data—specifically iris and facial scans—collected from Kenyan citizens. Lady Justice Roselyne Aburili delivered the judgment, emphasizing that WorldCoin’s operations violated Kenyans’ constitutional right to privacy. The court…
Kenya Explores Gold Reserves to Hedge Against Currency Fluctuations
Kenya’s Central Bank is considering boosting its gold reserves to protect against currency volatility and global economic instability. The Central Bank of Kenya (CBK) is evaluating the potential addition of gold to its foreign exchange reserves, Governor Kamau Thugge revealed in a recent interview with Bloomberg TV. Speaking at the International Monetary Fund (IMF) and…
LocalBitcoins Shuts Down Operations – Users Urged to Withdraw Funds Immediately
LocalBitcoins.com, one of the world’s oldest and most trusted peer-to-peer Bitcoin trading platforms, has officially ceased operations, marking the end of an era in the crypto community. In a notice to its former users, LocalBitcoins has strongly urged everyone with remaining balances on the platform to log into their accounts immediately and submit withdrawal requests…
Binance Launches Call for Applications: Become a Binance Africa Captain!
Binance, the world’s leading blockchain ecosystem and cryptocurrency exchange by trading volume, is calling on passionate crypto enthusiasts across Africa to apply for its newly launched Binance Africa Captain program. This exciting 6-month renewable opportunity aims to boost crypto education, foster vibrant community engagement, and strengthen Binance’s local presence across key African markets, including Kenya,…
Court Backs Central Bank of Nigeria in eNaira Trademark Dispute with Local Firm
In a landmark ruling, the Federal High Court has dismissed a request by eNaira Payment Solutions Limited to restrain the Central Bank of Nigeria (CBN) from using the “eNaira” trademark for its official digital currency project. The decision is seen as a significant victory for the CBN in its efforts to solidify the eNaira as…
SEC Nigeria Warns Locals: “Invest in Tofro.com Crypto Trading Platform at Your Own Risk”
The Securities and Exchange Commission (SEC) of Nigeria has issued a stern warning to the public, advising Nigerians to steer clear of investment activities on Tofro.com, a crypto trading platform flagged as potentially fraudulent. The warning comes as part of the SEC’s ongoing efforts, alongside the Economic and Financial Crimes Commission (EFCC), to combat the…
“This Is a Technology We Cannot Prevent,” Says Bank of Ghana Governor as Crypto Regulation Target Set for 2025
The Bank of Ghana (BoG) plans to regulate cryptocurrency and virtual asset platforms by September 2025, aiming to catch up with its African peers in establishing a structured framework for the digital economy. Speaking at the African Leaders and Partners Forum—an event hosted by the EBII Group alongside the IMF/World Bank Spring Meetings in Washington,…
Binance Tightens Crypto Rules for South Africans with New Sender and Beneficiary Verification Requirements
Leading global cryptocurrency exchange Binance has announced the introduction of stricter compliance measures for its South African users. Starting from April 30, 2025, customers will be required to submit additional sender and beneficiary information when conducting crypto deposits and withdrawals, as part of efforts to align with South Africa’s evolving regulatory landscape. New KYC Measures…
SEC Nigeria Issues Fresh Warning Against Unauthorized Digital Asset Platforms Amid Rising Investment Scams
In a renewed effort to protect Nigerian investors, the Securities and Exchange Commission (SEC Nigeria) has issued a stern public advisory warning against the rising threat of fraudulent investment schemes, including unregistered digital asset platforms. In a statement released on April 24, 2025, the Commission emphasized the urgent need for investors to exercise caution and…
Nigeria’s EFCC Charges Afriq Arbitrage System with $844K Investment Fraud as Crypto Crackdown Intensifies
Nigeria’s Economic and Financial Crimes Commission (EFCC) has filed serious fraud charges against Afriq Arbitrage System Limited (AAS) and its CEO, Jesam Michael, over alleged unlicensed financial activities and investment fraud involving $844,416.36, $10,000, and ₦590 million. The move marks yet another chapter in Nigeria’s growing crackdown on unauthorized cryptocurrency platforms, as regulators step up…