Crypto News 

South Africa: Bank Drops Bitcoin Exchanges Citing ‘Regulatory Clarity’

“Bitcoin (BTC) exchanges in South Africa will lose their banking support after a local bank confirmed it was closing their accounts” writes William Suberg for cointelegraph.com. An excerpt reads: “FirstRand Bank has been considering its risk appetite in respect of virtual currencies and virtual currency exchanges for some time.Within this context the bank has taken the decision to discontinue the provision of banking services to virtual currency exchanges and/or entities dealing/trading in virtual currency.Future regulatory clarity may cause us to revise our decision.” South Africa continues to enjoy a surge…

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Crypto News Platforms 

Government of Lesotho Signs MOU With Cryptocurrency Platform

“Apollo, a multi-function cryptocurrency platform, has signed a memorandum of understanding (MOU) with the government of the tiny nation of Lesotho to explore the implementation of blockchain and cryptocurrency in a number of government department and initiatives, including education, poverty, employment, and the private sector” writes Rachel Mcintosh for financemagnates.com. Africa has also been identified as a market with the potential for huge growth within the blockchain sphere.Comparatively, the nation of Malta–which has a population of less than 500,000–has put itself on the map as a global hotspot for the…

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Markets News 

91 American firms entered Egyptian market in 2018: AmCham president

“About 91 American companies entered the Egyptian market in 2018, thanks to the economic reforms and improvements of the business climate in the country, said Sherif Kamel, the American Chamber of Commerce in Egypt (AmCham) over his speech at the US-Egypt Future Prosperity Forum on Monday” writes Hagar Omran for dailynewssegypt.com. The economic reforms are giving the private sector a leading role to flourish the economic growth, he asserted adding that the reforms are improving the Egyptians standards of lives. Signing the FTA is now timely as it coincides with…

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Crypto News 

Opera-Backed Fintech OPay Seals $120M Investment to Grow Across Africa

“Lagos-headquartered fintech Opay has sealed $120 million in a series B financing round from a host of high-profile Chinese investors” writes Marie Huillet for cointelegraph.com. Since its Series A $50 million round, OPay’s business in Nigeria has grown to 140,000 active agents and hit $10 million in daily transaction volume, according to TechCrunch.The round reportedly included big-name venture capital investors Sequoia China and Softbank Asia, IDG Capital, alongside Meituan-Dianping, GaoRong, Source Code Capital, BAI, Redpoint and GSR Ventures. Source: cointelegraph.com

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News 

UK lawmaker to cast blame on global banks in South Africa Zuma corruption

“Hain, a labour member of parliament and former anti-Apartheid activist, will call on the banks, global corporates and foreign governments to cooperate better so all those involved in the pillaging of South Africa are brought to justice” writes Midwest Communications Inc for 95kqds.com. JOHANNESBURG (Reuters) – British lawmaker Peter Hain will tell an inquiry on Monday that corruption under South Africa’s former president Jacob Zuma was enabled by international banks, corporations and governments which should now seek to recover the loot they helped launder. Source: 95kqds.com

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GBP News 

U.S. pitted against Britain, France, South Africa, others at U.N. over abortion

“UNITED NATIONS (Reuters) – The United States told the U.N. Security Council on Tuesday that it opposed references to sexual and reproductive health and the safe termination of pregnancies, pitting Washington against Britain, France, South Africa and others” writes Midwest Communications Inc for 95kqds.com. Deputy French U.N. Ambassador Anne Gueguen said council acknowledgement of sexual and reproductive health and rights was essential to helping victims of sexual violence globally.”We cannot accept references to ‘sexual and reproductive health,’ nor any references to ‘safe termination of pregnancy’ or language that would promote…

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Crypto News Platforms 

P2P Crypto Trading Volume Increased 2800% in South Africa, Says Paxful

“Peer-to-Peer (P2P) cryptocurrency trading platform Paxful has seen 2,800% more trades in South Africa this month compared to October 2018” writes Adrian Zmudzinski for cointelegraph.com. In June, popular Finnish P2P Bitcoin (BTC) trading platform LocalBitcoins quietly removed in-person cash trading from its service because of regulatory pressure.As Cointelegraph illustrated in a dedicated analysis published last month, Africa — mainly South Africa — is poised to be the next big market for cryptocurrency exchanges. Earlier this month, major cryptocurrency exchange Binance launched support for peer-to-peer trading of Bitcoin (BTC), Ether (ETH)…

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News 

Eyeing economic growth, South Africa seeks to renegotiate old renewables projects

“Renewable energy projects are protected by more than 140 billion rand ($9.4 billion) of state guarantees, exposing the government to huge penalties if it were to terminate or breach existing agreements” writes Midwest Communications Inc for 95kqds.com. Putting too much pressure on them would risk deterring renewable energy investment just as the country is suffering nationwide power cuts.A simpler way to lower power prices could be to give the go-ahead for projects to refinance their debt.Jason van der Poel, a partner at law firm Webber Wentzel who represents power firms,…

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Brokers Crypto News Platforms 

Crypto Exchange Coindirect Launches OTC Brokerage in South Africa

“As industry news outlet CoinInsider reported on Sept. 27, the platform creates a vast liquidity pool by integrating with global platforms, allows for Bitcoin (BTC) price locks after a confirmation and for instant processing with no fees or slippage” writes Adrian Zmudzinski for cointelegraph.com. The exchange’s COO Nic Haralambous added: “During our first two years in the industry we have paid close attention to which users are driving the volume of crypto trading.Our approach is to bring cryptocurrency to as many users as possible, however, the data shows that a…

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