In this week’s Africa crypto review, Jack Dorsey is heading to a Kenya crypto conference. South Africa could be the OneCoin Crypto Queen’s hideout, and Algorand is making big moves in Nigeria; discover this and more from crypto Africa.
Crypto markets are on a roll, with Bitcoin smashing all-time highs in the past week. The continental trading and development landscape has had its fair share of developments, looking at the latest crypto news in Kenya, South Africa, and Nigeria. Let’s look at a few that stood out:
Former Twitter CEO and billionaire entrepreneur Jack Dorsey will attend the third edition of the Africa Bitcoin Conference in Nairobi from December 9 to 11.
Kenya Crypto News: Jack Dorsey To Attend Bitcoin Africa Conference, Time To Regulate Crypto?
Dorsey appreciates the conference’s importance in spreading crypto awareness on the continent and returns after his appearance at the inaugural event in Accra, Ghana.
Jack has since become a crypto entrepreneur after leading Twitter for over a decade. Elon Musk now owns X, and Dorsey is using some of his free time to attend crypto-related events.
Meanwhile, analysts argue that Kenyan lawmakers should prioritize regulating crypto and allowing banks to serve crypto firms.
If no action is taken and the country follows Nigeria’s hostile laws, it could prove costly in the long term.
This assessment considers the fast adoption rate and favorable laws, especially in the United States and Europe. With Donald Trump in power, crypto would thrive, leaving anti-crypto and neutral jurisdictions behind.
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Nigeria Crypto News: Algorand Driving Blockchain Adoption
The proof-of-stake blockchain platform, Algorand, has identified Taraba State in Nigeria as a potential area to boost adoption rates.
Algorand has partnered with the state government to introduce events such as hackathons and training to boost regional blockchain awareness.
The platform identified this state because of its relatively low financial infrastructure and connection to global financial systems.
Algorand seeks to provide sustainable solutions to blockchain developers and users.
The region’s large youth population is also an excellent resource for achieving this target.
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South Africa Crypto News: Is The Infamous Crypto Queen Hiding In Cape Town?
Infamous crypto swindler Ruja Ignatova is reportedly hiding in South Africa.
German publication Der Spiegel alleges that she lives in an affluent neighborhood in Cape Town, far away from the European countries where she pulled her Onecoin scam in 2018.
Ignatova is one of the most infamous names in crypto history. She was the face of a scam that promised heaven to crypto investors but ended up being a front for fraud.
Crypto scams and fraudulent ICOs damaged the sector heavily around 2018, but the industry has shaken off this dark chapter with more robust fundraising structures in place today.
This investigation is when Valr, a crypto exchange in the country, said it now serves more than one million users. Over the last 1o months, they added over 500,000 users. Roughly 25% of its clients are outside South Africa.
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