🟠 M-Pesa meets blockchain

Plus: 🇬🇭 Ghana brings crypto into its regulatory perimeter with a new VASP law; 🇿🇦 South Africa’s central bank says CBDCs matter — just not right now
Regulation — coverage and analysis.

Plus: 🇬🇭 Ghana brings crypto into its regulatory perimeter with a new VASP law; 🇿🇦 South Africa’s central bank says CBDCs matter — just not right now

The bank sees no need to deploy a retail CBDC anytime soon, but it will explore wholesale options.

Adoption is on the rise, but with increased adoption comes financial stability risks that the bank is now looking to counteract.

Plus: 🇬🇭 Ghana to deploy blockchain to track gold and curb illegal mining; 🇲🇦 Morocco publishes draft crypto rules.

SARB said the absence of a complete regulatory framework for crypto assets and stablecoins remains a key vulnerability in South Africa’s financial system.

The new rules establish a licensing regime for VASPs and bring them under the purview of BAM and AMMC

Lesetja Kganyago says he is unconvinced by the supposed stability of USD-pegged stablecoins and believes their backing can be called into question

Plus: 🇳🇬 Nigerians prefer crypto investments and gambling to the capital market — SEC DG

Emomotimi Agama said the country is missing out on substantial investments because Nigerians avoid investing in the Nigerian capital market.

Plus: 🌍 Nigeria, South Africa and two other African countries exit FATF’s grey list 🇿🇦 Ripple to provide digital assets custody services for Absa’s users 🇰🇪 Kenya edges toward crypto regulation as parliament passes VASP bill

Stakeholders are saying the Act is a step in the right direction, as it provides legal backing to an ecosystem long in the shadows.

Ayotunde Alabi highlights how adopting stablecoins and tokenized assets can help Africa build a modern financial system that drives trade and economic growth.

Despite these impressive figures, there is a huge policy vacuum sitting between potential and scale.

The bill has scrapped the creation of a new agency, VARA, and has instead placed VASPs under the CMA and CBK’s regulatory oversight.

At a Mariblock webinar last week, tax and digital asset experts said the new laws mark a turning point for the sector’s legitimacy.

Individual crypto transactions will now be subjected to a maximum of 25% personal income tax on profit made.