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Category: CRYPTO CURRENCY
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The eNaira is a Central Bank Digital Currency (CBDC) that will be fully operational as legal money in the country from October. According to the CBN, it will function as the digital version of the Naira and will be used in the same manner as physical currency. However, many Nigerians are still unsure about what to anticipate and how…
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China Bans Cryptocurrencies, Declares Crypto Transactions Illegal China’s central bank on Friday said all financial transactions involving cryptocurrencies are illegal, sounding the death knell for digital currencies in China after a crackdown on the volatile trade. The global values of cryptocurrencies including Bitcoin have massively fluctuated over the past year partly due to Chinese regulations,…
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Nigerians Will Download E-naira Wallets From October 1 – CBN The Central Bank of Nigeria (CBN) has said that Nigerians can begin to download e-naira wallets on their phones from October 1. The Director, Payment System Management, at the CBN Mr. Musa Jimoh, said this during an interview on the ‘Business Morning’ programme on Channels…
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Regulators Criticise Crypto Firms Venturing into Banking Financial regulators globally have expressed apprehension at the rate crypto firms are moving into the formal banking system without inhibitions saying that it is a dangerous sign that may spell doom to the system. Digital currency exchange Coinbase in early September went public with a complaint about a…
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Kenyan Startup Launches API-Powered Insurtech Platform in Kenya A Kenyan startup MotiSure has launched an API-powered insurtech platform that provides personal accident cover for commuters and riders through embedding insurance in tickets and other points of sale within mobility. Founded this year by Joel Macharia, Jane Njau and Thuita Wachira after they sampled over 400…
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ComiBlock, Nigerian Startup Launches Crypto Investment Robo-Advisor Nigerian startup ComiBlock has launched a goal-based investing crypto robo-advisor, giving anyone with a smartphone access to planning tools, advice, curated and thematic crypto-portfolios. Launched in February, ComiBlock uses technology to help its users become better crypto investors. “We measure progress by helping our users achieve specific life…
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CBN Announces Plan To Launch E-Naira Wallet, Reveals CBDC Guidelines The Central Bank of Nigeria (CBN) has reportedly confirmed that its e-naira digital currency will have a legal tender and non-interest-bearing asset status. In addition, a limit on customer transactions and value-based transactions will be imposed. Five-Stage LaunchThe new revelations concerning the e-naira’s design as…
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FBI Trains Nigerian Cryptocurrency Crime Investigators And Prosecutors The United States government through the FBI recently helped to run a training exercise whose goal is to enhance the capacity of Nigerian cryptocurrency crime investigators, the U.S. Mission Nigeria (USMN) has said. The exercise saw over 50 Nigerian investigators and prosecutors participate. In its August 25…
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Nigeria Leads in P2P Bitcoin Trade IN Sub-Saharan Africa Recent reports show that the Sub-Saharan Peer-to-Peer Bitcoin trading has surpassed that of North America, making the region the largest P2P market in the world. This was indicated in a recent data made available by UsefulTulips.org which analyses data from LocalBitcoins and Paxful trading platforms. According…
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How Hackers Steal $600 Million In Cryptocurrency Heist – Hackers have stolen some $600m (£433m) in what appears to be one the largest cryptocurrency heists ever. Blockchain site Poly Network said hackers had exploited a vulnerability in its system and taken thousands of digital tokens such as Ether. In a letter posted on Twitter, it…