HSBC Australia Blocks Payments to Crypto Exchanges

HSBC Australia has announced that it will block all customer payments to cryptocurrency exchanges via credit or debit cards, starting from July 24, 2024. The bank cites the high-risk nature of such transactions as the primary reason for this decision. HSBC Australia claimed scammers frequently exploit cryptocurrency exchanges, making it challenging to recover stolen funds. … Read more

Nigeria to Train 1,000 Residents Annually in AI and Blockchain Technologies

The Federal Government of Nigeria has launched an initiative to train 1,000 Nigerians annually in artificial intelligence (AI), blockchain, and other cutting-edge technologies. The program, called the “AI Expertise Blockchain and Technology Training and Outsourcing Initiative,” aims to position Nigeria as a leader in digital transformation in Africa. The government is partnering with Gluwa, a … Read more

Meta to Appeal Nigeria’s $220 Million Data Privacy Fine

Nigeria’s Federal Competition and Consumer Protection Commission (FCCPC) has fined Meta (formerly Facebook) $220 million for alleged data privacy violations. The investigation centered on Whatsapp LLC and Meta’s failure to allow users to consent to the gathering and use of their data. The FCCPC said it imposed the fine in accordance with the FCCPA 2018, … Read more

African Union Approves Continent’s Artificial Intelligence Strategy

The African Union (AU) has approved its Continental Artificial Intelligence (AI) Strategy and African Digital Compact to drive Africa’s digital development. These initiatives aim to accelerate digital transformation by leveraging new technologies while ensuring ethical use and minimizing risks. The strategy provides guidance for African countries to harness AI, preserve identity, languages, and cultures, and … Read more

Rho Markets Pauses Platform After Attacker Siphons $7.6 Million in Digital Assets

The digital asset security platform Cyvers Alerts disclosed on July 19 that Rho Markets’ liquidity layer on Scroll had been exploited after hackers took control of an oracle access control. Cyvers reported that the attacker held $7.6 million across multiple chains, with USDC and USDT pools among the affected assets. Shortly after detecting unusual activity, … Read more

Real Estate Tokenization Platform Enters Kenyan Regulatory Sandbox

Ownmali, a blockchain-enabled real estate tokenization platform, has been admitted into the Capital Markets Authority of Kenya (CMA Kenya) Regulatory Sandbox. Ownmali aims to foster greater inclusivity in real estate investing by making it more affordable for younger Kenyans, regardless of their income levels. During the 12-month sandbox period, Ownmali will adhere to regulatory requirements, … Read more

Momint Secures Grant from Dfinity Foundation for Global Blockchain Expansion

Momint, a Web3 startup, is poised for global expansion after securing a $50,000 grant from the Dfinity Foundation. This Swiss non-profit organization, known for its blockchain R&D, awarded the grant through the Internet Computer Protocol (ICP) Hub of Southern Africa. Momint plans to integrate ICP blockchain technology into its operations, enhancing its global reach and … Read more

Okx Quits Nigerian Market, Users Urged to Withdraw Funds Before Deadline

Okx, a leading cryptocurrency exchange, has announced its decision to discontinue services in Nigeria starting from August 16, 2024. The company cited unfavorable policies by the Nigerian government as the reason for this move. Okx said Nigerian users are advised to withdraw their funds from the platform before the specified date. This decision is similar … Read more

Zimbabwean Miner Launches Blockchain-Based Gold Tracking System

Zimbabwean mining company, Kuvimba Mining House, has introduced a blockchain-based mine-to-market traceability system for its gold production in the country. This system ensures that all gold from Kuvimba is traceable from the mine to international markets. Kuvimba, the country’s largest gold producer, emphasizes transparency, legitimacy, and responsible mining. The Comstack system, utilizing blockchain technology, enhances … Read more

Tanzania Seeks to Shore up Local Currency With Directive Mandating Tourists to Use Shillings

Tanzania’s Ministry of Tourism and Natural Resources has mandated that all fees in the tourism sector must be paid in local currency, aligning with a government directive for local transactions to use the country’s shillings. This requirement applies to Tourism Business Licence fees, filming permits, and visiting fees. Previously dollar-denominated payments will now be converted … Read more