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Africa – DIGIT INFO

Africa

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Economist Dawie Roodt Warns South Africans May Drop Local Currency as Crypto Rules Tighten

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A South African economist warns that the National Treasury’s proposed crypto regulations are an unenforceable attempt at state control that will ultimately backfire. The Push Toward Decentralized Tech South Africa’s continued reliance on exchange controls will push citizens toward cryptocurrencies and stablecoins unless the system is dismantled, Efficient Group director and chief economist Dawie Roodt … Read more

Namibia Judge Revokes Bail for Eight Missing Suspects in Crypto Fraud Trial

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Chinese nationals charged in an international cryptocurrency fraud and human trafficking ring in Namibia failed to appear in court and have been traced back to China. State authorities have requested Interpol’s assistance to locate them. Six Chinese nationals facing human trafficking and cryptocurrency fraud charges in Namibia have fled the country and been traced back … Read more

MTI Liquidators Face 9,441 Claims as $35.8M Estate Shrinks Before Payouts

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Liquidators of Mirror Trading International, a massive South African crypto pyramid scheme, have received over 9,441 claims totaling nearly $395 million. Shrinking Assets and Rising Legal Costs Liquidators overseeing the collapse of Mirror Trading International (MTI), once described as South Africa’s largest pyramid scheme, have received 9,441 claims totaling nearly $395 million (6.5 billion rands), … Read more

Nigerian Fintech Paga Expands Into Tokenized Bonds and Real Estate Through Sui Partnership

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Nigerian fintech pioneer Paga has partnered with the Sui blockchain to integrate cryptocurrency infrastructure into its platform. A Roadmap for Digital Finance Nigerian fintech pioneer Paga has entered a partnership with Sui blockchain, marking the company’s most significant push into crypto infrastructure to date. The collaboration was unveiled on May 7 at Sui Live in … Read more

Kenyan Court Detains Man 7 Days Over $440,000 Crypto App Fraud Probe

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A Kenyan court has ordered the weeklong detention of a man accused of operating a fraudulent cryptocurrency investment platform. Suspicious App Triggered Investigation A Kenyan court ordered the weeklong detention of the alleged operator of a fraudulent cryptocurrency-themed investment platform, as detectives investigate a multilayered scheme that collected about $440,000 from unsuspecting investors. The order … Read more

Kenyan Central Bank Moves to Vet VASP Applications With 4 Hires

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The Central Bank of Kenya is reportedly actively recruiting for its first-ever dedicated virtual asset service provider supervision team. Key Takeaways: CBK opened recruitment for 4 VASP oversight roles following the passage of the 2025 VASP Act. The recruitment signals that the CBK aims to professionalize and stabilize Kenya’s growing crypto market. A 13-member committee … Read more

Nigeria’s Greenafrica Claims $100k Top Prize as Hedera Hackathon Draws 45,000 Participants

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The Hashgraph Association and Exponential Science have concluded a hackathon that attracted over 45,000 participants and generated more than 1,300 project submissions. Key Takeaways: On April 29, THA and Exponential Science named Greenafrica the top winner of the 2025 Hedera Africa Hackathon. The $1M prize pool fueled 1,300+ projects, proving Hedera as a top utility … Read more

From Speculation to Stability: Discovery Bank Report Reveals 7.8M South Africans Now Invest in Crypto

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A new report by Discovery Bank and Visa highlights a major shift in South Africa’s financial landscape, as cryptocurrency matures from a speculative trend into a mainstream investment class. Key Takeaways: Discovery Bank and Visa report that 7.8 million South Africans now treat crypto as a mainstream asset class. Middle-income trading grew 26% in 2024, … Read more

South Africa Crypto Draft Triggers 1M Rand Fine Warning From Valr CEO

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Industry leaders and financial experts have issued a sharp rebuke of the South African National Treasury’s Draft Capital Flow Management Regulations 2026, calling the proposal a regressive move that mirrors apartheid-era economic controls. Key Takeaways: National Treasury draft replaces 1961 rules with 2026 digital asset controls despite Sidley’s objections. VALR CEO Ehsani warns of a … Read more

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