Altcoins/Crypto News
Weekly Overview of Africa's Cryptocurrency Scene: Nigerian Exchange Expands to Kenya, South Africa Targets Online Fraud, and Ghana's Central Bank Moves on VASP Registration
This week's highlights in Africa's cryptocurrency landscape include the expansion of Nigerian exchange Roqqu into Kenya, South Africa's regulatory clampdown on scams, and Ghana's impending directives for VASP registration.
1 min read
Africa’s cryptocurrency landscape has seen significant developments this week. Notable headlines include:
- Kenya: The Nigerian crypto exchange Roqqu has acquired the Kenyan startup Flitaa as it seeks to expand its footprint in the East African market. Flitaa, established in 2019, operates across several countries including Kenya and seeks to enhance local investment in cryptocurrency.
- South Africa: Regulatory authorities have intensified efforts to tackle online fraud. The Financial Sector Conduct Authority (FSCA) plans to allocate 200 million Rand to address scam activities prevalent in the crypto space, especially after major incidents caused significant losses.
- Ghana: The Central Bank is set to implement new directives on registration for Virtual Asset Service Providers (VASPs) by August 15, aiming to enhance regulatory compliance in line with international trends.
This week’s overview reflects the dynamic shifts occurring across Africa’s cryptocurrency markets, highlighting the push for regulatory frameworks and increased investment opportunities.
