Category: Fin Tech
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…
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…
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…
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…
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…
🇳🇬 Almost 800 arrested over Nigerian crypto-romance scam
Nigeria’s anti-graft agency said it had arrested 792 suspects in a raid on a building believed to be a hub for fraudsters who lured victims with offers of romance, then pressed them to hand over cash for phoney cryptocurrency investments. The suspects, including 148 Chinese and 40 Filipino nationals, were detained on Dec. 10 at…
🇱🇷Liberia: Campaigners Announce Mass Protest to Challenge Internet Price Hikes Amid Economic Hardship, Plan Marches to LTA Headquarters, Executive Mansion
Monrovia – When the Liberia Telecommunications Authority, under the acting management headed by Abdullah Kamara imposed a hefty fine on Lonestar Cell MTN and Orange Liberia in June this year for allegedly engaging in unhealthy business competition, it did not envisage that citizens would be greatly affected when the GSM companies cancel their promotion. Nearly…
Cybersecurity Breach at Uganda’s Central Bank: $17 Million Stolen, Probe Ordered
Uganda is in the spotlight following a major cybersecurity breach at the Bank of Uganda (BoU), with reports claiming that hackers siphoned off 62 billion Ugandan shillings (approximately $17 million). The government has ordered an investigation into the attack, which has sparked concerns about financial security in Uganda and across Africa. The Hack: What We…
🇲🇬Madagascar Faces Mobile Money Crisis Amid Tax Controversy
The mobile money sector in Madagascar is at a critical juncture following debates over a new proposed tax bill that many experts, businesses, and stakeholders are labeling as inefficient and dangerous for the country’s growing digital economy. Mobile money services are a lifeline for millions of Malagasy citizens, providing financial inclusion in a country where…
Special Report: The Future of Technology Innovation in Africa—A Focus on Kenya
As the world races to adapt to the rapidly evolving digital economy, Africa stands at a crossroads, with technological innovation emerging as a crucial avenue for solving pressing challenges, including job creation. In East Africa, Kenya has positioned itself as a leader, particularly in its capital, Nairobi, which is rapidly becoming the region’s tech hub.…
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