The Economic and Financial Crimes Commission (EFCC) in Nigeria has announced a 5% reward for whistleblowers who provide credible information leading to the prosecution of offenders involved in naira abuse. Dele Oyewale, the EFCC spokesman, emphasized the importance of enforcing the law and protecting the economy from negative impacts. The commission has already secured nearly […]
Chamath Palihapitiya, the founder and CEO of Social Capital, a venture capital firm, has explained how bitcoin could reach $ 500,000 or even higher price levels in the coming months. During a podcast, Chamath clarified that considering the price performance in the previous halving cycles, bitcoin could reach that level pushed by the adoption …
The Nigerian Senate Committee on Capital Markets has called for the regulation of cryptocurrency and warned that the country’s unclear position could be costing the country. The committee also urged the government of Bola Tinubu to develop the capital and crypto markets to defend the local currency. Nigeria’s Ambiguous Stance on Crypto The Nigerian Senate […]
The Central Bank of Nigeria has increased the capital requirements for national bureau de change operators from approximately $ 24,000 to $ 1.4 million. The central bank has given operators a six-month period to comply and they must apply for new licenses. The bank’s director for risk management stated that street trading of …
The House of Representatives has passed Congressman Tom Emmer’s CBDC Anti-Surveillance State Act, which prohibits the Federal Reserve from issuing a surveillance-oriented central bank digital currency (CBDC). The lawmaker emphasized that the bill protects American values of privacy and individual sovereignty, countering potential governmental overreach. CBDC Anti-Surveillance Act Clears House Following the passage of the […]