Category: Digital Currency
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…
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…
🇳🇬 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…
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.…
Google Exposes GLASSBRIDGE: A Pro-China Influence Network of Fake News Sites
Government agencies and non-governmental organizations in the United States have become the target of a nascent China state threat actor known as Storm-2077. The adversary, believed to be active since at least January 2024, has also conducted cyber attacks against the Defense Industrial Base (DIB), aviation, telecommunications, and financial and legal services across the world,…
🌍 BRICS cooperation with Africa increases the bloc’s influence on the global economy – media
The influence of BRICS on the global economy is growing as the number of member countries increases, and the importance of cooperation with Africa is also growing, according to an analytical article in the Zimbabwean newspaper Herald. “As the number of BRICS member countries increases, so will the organization’s influence on the global economy. One…
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