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An arrest warrant for Riccardo Spagni was issued on July 20, 2021 at the request of the South African government. He was apprehended the same day in the United States. Go to Source Powered by WPeMatico
On Monday, the global payments solutions provider Clear Junction announced it ceased processing transactions for Binance. The move by Clear Junction was brought on by the Financial Conduct Authority’s (FCA) recent warning, according to a blog post written about the decision. Clear Junction Ceases Processing Payments for Binance Citing the Recent FCA Warning The Financial … Read more
AfriCrypt’s founders deny running off with billions in customers funds, asserting they went into hiding after receiving death threats from “dangerous people.” Go to Source Powered by WPeMatico
According to local media, leading South African financial institution FNB is denying allegations of a banking relationship with the recently collapsed crypto investment company, Africrypt. FNB also insists it did not enable the investment company’s transactions which helped Africrypt’s two directors disappear with billions of dollars in investor funds. Disappearance of Investor Funds The financial … Read more
Strong retail interest in crypto has driven South African regulators to rethink how they classify cryptocurrencies. Go to Source Powered by WPeMatico
“What we have seen with Bitcoin is price manipulation by one very powerful and influential individual,” said Magda Wierzycka. Go to Source Powered by WPeMatico
The South African Reserve Bank (SARB) says it has commenced a feasibility study for a general-purpose retail central bank digital currency (CBDC). The study, which the SARB expects to conclude in 2022, will focus on the issuance of a domestic CBDC that can be used by consumers in South Africa for general retail purposes. Study … Read more
The South African Reserve Bank has begun exploratory studies on central bank digital currencies. Go to Source Powered by WPeMatico
Despite gold’s longstanding status as an alternative store of value, the commodity continues to experience unusual price variations in countries like South Africa and Zimbabwe. In turn, such price variances, as well as the rampant smuggling of the commodity, are distorting the precious metal’s actual production figures. Recycled Gold vs Non-Recycled Gold According to a … Read more
According to a recent Mastercard payment index report, the Covid-19 related lockdowns helped spread the use of cryptocurrency in three African countries, namely Nigeria, Kenya, and South Africa. The report also reveals that a greater number of consumers from these countries are “likely to use one emerging payment method in the coming year.” More Respondents … Read more
