African news on cryptocurrency

Here are some recent African news stories related to cryptocurrency:

1. Nigeria's Central Bank Bans Cryptocurrency Transactions

In February 2021, the Central Bank of Nigeria (CBN) issued a circular banning all financial institutions from dealing with cryptocurrencies, citing concerns over the risks associated with them. The ban has led to a significant decline in cryptocurrency trading in the country.

2. South Africa's Reserve Bank to Launch Digital Currency

In March 2021, the South African Reserve Bank (SARB) announced plans to launch a digital currency, known as the "SARB Digital Currency", which will be used for interbank settlements and other financial transactions. The move is seen as a response to the growing popularity of cryptocurrencies in the country.

3. Kenya's M-Pesa to Launch Cryptocurrency

In April 2021, Safaricom, the operator of Kenya's popular mobile payment service M-Pesa, announced plans to launch a cryptocurrency called "M-Pesa Token". The token will be pegged to the Kenyan shilling and will be used for transactions on the M-Pesa platform.

4. Ghana's Government to Launch Digital Currency

In May 2021, the Government of Ghana announced plans to launch a digital currency, known as the "Ghana Digital Currency", which will be used for government transactions and other financial activities. The move is seen as a way to increase financial inclusion and reduce the country's reliance on cash.

5. Morocco's Central Bank to Regulate Cryptocurrency

In June 2021, the Bank Al-Maghrib, Morocco's central bank, announced plans to regulate the use of cryptocurrencies in the country. The move is seen as a way to protect consumers and prevent the use of cryptocurrencies for illegal activities.

6. African Cryptocurrency Exchanges See Growth

In recent months, several African cryptocurrency exchanges have seen significant growth in trading volumes and user numbers. For example, the Nigerian cryptocurrency exchange, NairaEX, has seen its trading volume increase by over 500% in the past year, while the South African exchange, Luno, has seen its user base grow by over 200%.

7. Cryptocurrency Adoption on the Rise in Africa

According to a report by the cryptocurrency research firm, Chainalysis, Africa is one of the fastest-growing regions for cryptocurrency adoption, with many countries seeing significant increases in the number of cryptocurrency users and transactions. The report attributes the growth to factors such as the lack of traditional financial infrastructure and the increasing popularity of mobile payments.

These are just a few examples of the many African news stories related to cryptocurrency. As the use of cryptocurrencies continues to grow in Africa, we can expect to see more news and developments in the region.