Category: Banking Industry
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Ghana’s Central Bank to Regulate Crypto by September 2025
The Governor of the Bank of Ghana (BOG), Johnson Asiama, announced that the central bank plans to begin regulating cryptocurrency and related platforms by the end of September 2025, pending the passage of the Virtual Asset Providers Act. Speaking in Washington, D.C., Asiama stated that the BOG is establishing a dedicated digital assets unit, recognizing…
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🇬🇭Ghana’s Cedi Strengthens Marginally Against Major Currencies
Ghana’s local currency, the cedi, has recorded slight gains against major trading currencies, particularly the US dollar, at various forex bureaus across the country. This development brings cautious optimism among businesses and consumers who have closely monitored the cedi’s performance amidst economic fluctuations. A Positive Turn for the Cedi Over the past weeks, traders and…
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Bitcoin ban: African countries where crypto is restricted or illegal
Bitcoin has been controversial since its beginning in 2009, as have the subsequent cryptocurrencies that followed in its wake. Due to its extreme volatility, its use in nefarious transactions and the exorbitant use of electricity to mine it, the legal status of the digital currency varies substantially from country to country. But as more Africans…
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U.S. House Financial Services Committee Debates Trump Administration Tariffs’ Impact on Small Banks
Date: February 10, 2025Author: PanAfrican.Email During a pivotal House Financial Services Committee hearing on Wednesday, Rep. Maxine Waters (D-CA) led a robust discussion on the potential repercussions of the Trump Administration’s proposed tariffs, particularly their impact on small banks. The hearing, which brought together financial experts, policymakers, and industry leaders, highlighted growing concerns over how…
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The Rise of Memecoins in Africa: Opportunities, Risks, and Market Potential Through 2030
The year 2024 witnessed an unprecedented surge in the popularity of memecoins, with their combined market capitalization surpassing $130 billion. These cryptocurrencies, often inspired by internet memes and cultural references, have captivated investors worldwide. In Africa, the memecoin phenomenon has gained significant traction, leading to the emergence of region-specific tokens that resonate with local communities.…
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DGSE Bank Formation: A Game Changer for Sahel States and West Africa’s Banking Industry
Mali, Niger, and Burkina Faso have recently announced the formation of a common bank, marking a significant development in the financial landscape of the Sahel region. This initiative is part of a broader strategy to strengthen economic ties and enhance financial autonomy among these nations. Implications for West Africa The establishment of this joint bank…
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Don’t Let Market Noise Shake You: Michael Saylor’s Case for Holding Bitcoin Through the Chaos
In the ever-volatile world of cryptocurrency, the Bitcoin market remains one of the most unpredictable and anxiety-inducing spaces for investors. Prices can swing dramatically within hours, sparking panic among those unprepared for the emotional rollercoaster. Yet, according to Michael Saylor, executive chairman of MicroStrategy, the key to unlocking Bitcoin’s astronomical potential lies not in panicking…
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First criminal crypto tax evader in US sentenced to two years in prison
Quick Take An Austin, Texas, man received a two-year sentence for falsely underreporting capital gains earned from selling $3.7 million in bitcoin — marking the first criminal tax evasion prosecution centered entirely on cryptocurrency. The false tax returns were filed by Frank Richard Ahlgren III between 2017 and 2019. They did not report or underreported…
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Former Bank Teller in Delaware Accused of Stealing Thousands from Dormant Accounts
Authorities in Wilmington, Delaware, have accused a former Citizens Bank teller of stealing tens of thousands of dollars from customer accounts. The suspect, identified as 35-year-old Vannia Chatt, allegedly exploited her position at the branch located on the 900 block of N. Market Street. According to police, Chatt targeted three dormant accounts, creating emergency debit…
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🇲🇺 Mauritius Police Issue Arrest Warrant for Ex-Central Bank Governor
Mauritius authorities have announced an arrest warrant for Harvesh Kumar Seegolam, the former governor of the country’s central bank. The warrant, issued by the police’s anti-money laundering unit, is tied to an ongoing investigation into an alleged conspiracy to defraud. This development marks a significant step by Prime Minister Navin Ramgoolam’s administration, which recently accused…
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