Tag: crypto
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Nigeria sounds alarm as $2.1bn in suspicious crypto transactions shake West Africa

North Africa PostComments Off on Nigeria sounds alarm as $2.1bn in suspicious crypto transactions shake West Africa

Nigeria’s Securities and Exchange Commission (SEC) has raised the red flag following revelations of $2.1 billion in suspicious cryptocurrency transactions across West Africa in 2024, according to a study by the Inter-Governmental Action Group against Money Laundering in West Africa (GIABA). SEC Director-General, Emomotimi Agama, speaking at the recent West Africa Compliance Summit in Cape […]
Business Finance

Africa’s crypto challenges: crackdown, ban or regulation in wake of rising scams

North Africa PostComments Off on Africa’s crypto challenges: crackdown, ban or regulation in wake of rising scams

Despite rising interest all across the continent, trade in cryptocurrencies remains banned — in part due to concern about soaring losses arising from crypto scams — by most African governments save for the Central African Republic (CAR). The latest Chainalysis report indicates that losses arising from cryptocurrency scams rose by 60% in the first seven […]