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Bitcoin, Cryptocurrency News in Nigeria And Africa

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Diutocoinnews Weekly: Weekly on Bitcoin News, Kenyan Court Rules Out Cryptocurrency as Securities.

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  • Kenyan Court Rules Out Crypto as Securities. 
  • SEC Nigeria Inaugurates Fintech Roadmap Committee.
  • Africa Still Leads the Bitcoin Google Search.

Kenyan Court Rules Out Cryptocurrency as Securities:

A Kenyan court has ruled out an ongoing case filed by KeniCoin. Capital Markets Authority of Kenya (CMA) previously warned Kenyans against investing in KeniCoin and the exchange, KeniCoin Exchange.

The court ruling might be a stepping stone for setting new standards for the regulation and issuance of cryptocurrency and digital assets. This will see cryptocurrency as securities under Capital Markets Authority of Kenya.

SEC Nigeria Inaugurates Fintech Roadmap Committee:

The committee implementing Fintech Roadmap from SEC Nigeria was officially inaugurated. 

The report provides a clear classifications on crypto and virtual assets regulations and operations guidance. This will help the securities exchange commission of Nigeria in the regulations of cryptocurrencies as was recommended in the fintech roadmap report.

Africa Still Leads the Bitcoin Google Search:

According to the current Google Search and Google Trends Search for the word ‘Bitcoin’, in 2020, Nigeria an African country ranks first leading the list of the top 10 countries searching for bitcoin in 2020.

The list of the top 10 countries are as follows:

Nigeria

Austria

Ghana

Switzerland

South Africa

Germany

Netherlands

Venezuela

Uruguay

Slovenia

Moreso, the Nigeria Deposit Insurance Corporation, NDIC, created a new department called “Fintech and Innovations Unit”. 

This is in accordance with its intentions to leverage on the emerging technologies like blockchain, artificial intelligence and its innovations and applications in financial services. 

According to Mohammed Kudu Ibrahim, on behalf of the Director, Communications and Public Affairs, the new department was created to take care of contemporary trends in advanced economies.

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