Africa Matters

Binance declared illegal in Nigeria, ordered to cease operations

Binance, a blockchain ecosystem and cryptocurrency infrastructure provider, has been ordered to cease operations in Nigeria after being declared an illegal crypto trading platform. Nigeria’s Securities and Exchange Commission (SEC) issued the directive on Friday, discouraging crypto investors from using the platform as Binance is neither registered nor regulated and its operations in the country were illegal. In a…

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4 million Kenyans suffer crypto crash losses

Summary The crypto market, known for its wild price swings, has shed more than half of its value since November last year as investors pulled out money from riskier assets amid worries over soaring inflation and rising interest rates. The ongoing meltdown in the cryptocurrency industry could push an estimated four million Kenyans who hold the digital assets deeper into…

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