Regulation

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Report: Flutterwave CEO in Bid to Recover Millions Stuck in Kenya

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According to reports, the CEO and co-founder of the Nigerian fintech Flutterwave, Olugbenga Agboola, recently visited Kenya where he sought to convince the country’s monetary authorities to grant the firm access to funds that have been blocked since July 2022. Agboola claimed that his firm had “instituted a number of changes over the past year … Read more

Rwanda Government Orders Banks to Stop Facilitating Crypto-Related Transactions

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According to the National Bank of Rwanda, the country’s regulated financial services providers are now prohibited from facilitating crypto-related transactions. In her Jan. 31 letter justifying the decision, the acting governor Soraya Hakuziyaremye cites the unregulated status of most crypto assets and how this leaves users without the “guarantees and safeguards associated with regulated financial … Read more

India Having ‘Detailed Discussions’ With G20 Members on Crypto Regulation

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India is having “detailed discussions” with other G20 members about forming a collective standard operating procedure (SOP) to regulate crypto assets, Indian Finance Minister Nirmala Sitharaman has revealed. She also called for “a globally coordinated approach on the regulation of crypto assets” during her recent meeting with International Monetary Fund (IMF) Managing Director Kristalina Georgieva. … Read more

India’s Central Bank Reveals 50,000 Users and 5,000 Merchants Now Using Digital Rupee

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India’s central bank, the Reserve Bank of India (RBI), has revealed that 50,000 users and 5,000 merchants are now using its central bank digital currency (CBDC). Digital rupee transactions are currently processed by eight banks, with five more banks set to join the pilot soon, said RBI Deputy Governor T. Rabi Sankar. Digital Rupee Now … Read more

Stiffing the Staker: The SEC’s Latest Crackdown on Crypto Innovation

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The crypto world was jolted last week when the Securities and Exchange Commission (SEC) shut down Kraken’s staking program, much to the satisfaction of Chairman Gary Gensler and his team. But what does this mean for the future of cryptocurrency and, more specifically, staking? The following opinion editorial was written by Bitcoin.com’s Business Development Manager … Read more

‘Midnight Massacre:’ SEC Crackdown on Crypto Staking Services Prompts Speculation of Further Enforcement Actions

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On Feb. 9, 2023, the cryptocurrency community learned of the U.S. Securities and Exchange Commission’s (SEC) crackdown on staking services. The SEC fined Kraken, a cryptocurrency exchange, $30 million for offering an “unregistered offering” related to its U.S. staking service. Digital currency advocates are now debating what constitutes a yield product versus a noncustodial solution … Read more