Inflation Hit Ethiopia Demonetizes Currency To Curb Cash Hoarding

Inflation Hit Ethiopia Demonetizes Currency To Curb Cash HoardingThe Ethiopian government has unveiled a new set of banknotes that are expected to help authorities in curbing cash hoarding, illegal trade and illicit financial flows. The move is also aimed at boosting the liquidity of banks that are struggling to cope with Ethiopia’s cash-based economy. In a statement released via Twitter on September 14, […]

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Forex Strapped Nigeria Designates Crypto Assets as Securities

Forex Strapped Nigeria Designates Crypto Assets as SecuritiesThe Securities and Exchange Commission (SEC) of Nigeria has designated crypto assets as securities as the authorities step up efforts to regulate Africa’s largest cryptocurrency market. The SEC says the classification of crypto assets for regulation is consistent with the country’s investment and securities laws of 2007. In a statement released Sept. 14, the SEC […]

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Report: Russia Remains a ‘Key Market for Crypto,’ Commands the 3rd Largest Bitcoin Hashrate in the World

Report: Russia Remains a 'Key Market for Crypto,' Commands the 3rd Largest Bitcoin Hashrate in the WorldThe fervor for cryptocurrency assets in Russia has grown wild over the last few years. This week Xangle Research published a comprehensive report about digital currencies and the Russian environment in 2020. The study’s findings show that Russia is one of the world’s key players when it comes to the crypto economy, but finding reliable […]

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Nigeria’s Foreign Currency Crisis Boon for Bitcoin: Country Tops Wallet Downloads Ahead of the US

Nigeria's Foreign Currency Crisis Boon for Bitcoin: Country Tops Wallet Downloads Ahead of the USNigeria’s weakening naira currency, as well as the shortage of U.S. dollars, are forcing businesses to switch to bitcoin as the means of settling payments for international transactions. Nigerian businesses need the American currency to buy new supplies, as well as to order essential equipment from abroad. However, formal sources of foreign currency like banks […]

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