Category: Digital Currency
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Bank of Ghana Declares 50 Loan Apps Illegal: What This Means for Fintech in Africa
By: Tekpwfari Stix El| panafrican.email Date: May 31, 2025 — Introduction In a decisive move to regulate the fast-growing digital lending space, the Bank of Ghana (BoG) has declared 50 digital loan apps illegal, citing consumer abuse, data privacy violations, and failure to obtain proper licensing. The announcement has sparked intense public debate on financial…
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Afrostar: Africa’s Ambitious Leap into the Crypto Frontier
As the global cryptocurrency landscape evolves, Africa is making its mark with Afrostar (AFRO), a digital currency aiming to unify and empower the continent’s financial ecosystem. Positioned as “The United Digital Currency of Africa,” Afrostar seeks to bridge economic disparities and foster financial inclusion across African nations. What is Afrostar? Afrostar is a cryptocurrency project…
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Africa: Jiji Expands Beyond Africa With Bangladesh E-Commerce Entry
African online marketplace Jiji will launch operations in Bangladesh, marking its first expansion outside the continent. The move targets the country’s growing middle class, mobile connectivity, and expanding e-commerce sector, which is expected to reach $13 billion by 2027, according to Payments and Commerce Market Intelligence (PCMI). Jiji operates in seven African countries, including Nigeria,…
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XRP’s Integration into the Federal Reserve System: Impact on Pan-African Nations and Emerging Cryptos
Recent developments suggest that Ripple’s XRP is being considered for integration into the U.S. Federal Reserve’s payment infrastructure, potentially through indirect associations with service providers involved in the FedNow system. This move could have significant implications for Pan-African nations, particularly in enhancing cross-border transactions and financial inclusion. XRP’s Integration into the Federal Reserve System The…
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The Future of Cryptocurrency in Pan-African Nations by 2030
Cryptocurrency is poised to significantly impact Pan-African nations by 2030, particularly in the realms of business transactions, education, and governmental policies. As digital currencies gain traction across Africa, they present both opportunities for financial independence and challenges linked to neo-colonial tactics aimed at controlling emerging economies. This article explores the main cryptocurrencies likely to influence…
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π°πͺ Stellar XLM Adoption in Kenya and Africa
Stellar Lumens (XLM) is making significant strides in Kenya and across various African nations, offering innovative solutions to financial challenges and promoting economic inclusion. Market Capitalization and Current Status As of February 22, 2025, Stellar (XLM) is trading at approximately $0.3363 USD, with a market capitalization of around $10.31 billion USD. This positions XLM as…
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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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Donβt Let Market Noise Shake You: Michael Saylorβs 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 Bitcoinβs 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 β 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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π³π¬ 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…
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