Author: Precious Udeorah

According to a recent statement made by the South African government, individuals running enterprises with a crypto assets focus will be included on the list of institutions that must be held accountable for regulatory oversight. The Financial Intelligence Centre Act, 2001’s schedules 1, 2, and 3 have been modified, and as of Nov. 29, this list has been expanded to include crypto firms. Enoch Godongwana, the minister of finance for South Africa, made the amendments to the Act, which take effect on December 19. Godongwana identifies the many crypto-related operations and processes that will be listed among the so-called accountable…

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As the digital world develops, con artists come up with more sophisticated techniques to defraud web3 users and take their money. The risks of using the Web3 environment include airdrop fraud, spamming, phishing sites, and fake smart contracts, to name a few. Massive DeFi exploits caused the theft of more than $1.6 billion in cryptocurrency in 2022, far more than in 2020 and 2021 combined. Where is the good news? Fortunately, there is a solution created especially to ward off these dangerous behaviors, aiding users in maintaining the security of digital assets and taking full advantage of Web3 experiences. With…

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Users can engage with decentralized applications created using blockchain technology using Web3 browsers. The next-generation internet will be open to anyone and provide benefits thanks to Web3 technologies like distributed ledgers, AI, Metaverse, and others. A Web3 browser’s key attributes are as follows: Believing that users would download the digital product exactly as its creator intended is known as having an immutable ecosystem. Increased security and transparency, Improved browsing speed, Full user secrecy and anonymity, Using various blockchains to integrate cryptocurrency wallets, Decentralization A large amount of macro Web1 information needs to be converted into micro content since search engines…

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A second-placed cryptocurrency firm was FTX. But today, it merely serves as a bankrupt platform. Due to limited liquidity, FTX was unable to properly deliver services on November 8. Finally, on November 12th, the business filed for Chapter 11 bankruptcy in a US district court together with nearly all of its related businesses, including FTXUS, Alameda Research, etc. Sam Bankman-Fried (SBF), the creator and former CEO of the exchange, participated in a video conference on November 30 at the DealBook Summit hosted by the New York Times. The host of the interview questioned him about if it was deliberate for…

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Brazil is one of the world’s most crypto-friendly countries. Purchasing and selling digital assets is completely legal in this Latin American nation, and individuals can utilize cryptocurrencies as a form of payment through third-party processing firms that are both crypto and fiat-linked. Cryptocurrency holdings are regarded as movable digital property in Brazil. House Bill 4401/21 was only just approved by Brazilian lawmakers. When this bill is finally approved, it will be possible to utilize Bitcoin as a payment option, and all crypto holdings will be classified as investment assets. In short, Bitcoin will receive more acceptance support in this Latin…

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The Metaverse is a cutting-edge virtual reality (VR) concept that gained enormous interest in the cryptocurrency space and among digital businesses when Facebook parent company Meta revealed its plans for the Metaverse in the middle of 2021. According to experts, the true Metaverse ecosystem would not be conceivable without the assistance of blockchain technology and the utilization of cryptocurrency assets. The University of Nicosia currently offers several of its courses in the Metaverse. Additionally, the top-ranked cryptocurrency exchange Binance supports these projects at this university by offering scholarships to ensure that more students can demonstrate their interest in blockchain and…

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Cryptocurrency exchange, FTX, recently filed for bankruptcy. The backend team filed for chapter 11 bankruptcy in a US district court on November 12. The team’s improper handling of the user’s money was the primary cause of FTX’s demise. Alameda Research was a major organization using the exchange reserves to administer the company’s financial services, and the backend team was improperly transferring the user’s funds to its linked organizations. The company resumed paying all of its employees, who are based all over the world, on November 29, according to a release from exchange. The FTX exchange’s newly appointed CEO, John J.…

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Dogecoin experienced a brief 19.4% price increase as a result of billionaire entrepreneur Elon Musk’s confirmation that he plans to consolidate payments into “The Everything App,” or Twitter 2.0. Dogecoin is a cryptocurrency inspired by memes (DOGE). The new Twitter CEO published numerous documents from a recent “Twitter company talk” in a tweet on November 27 to his 119.2 million followers, outlining his goals. Although Musk didn’t name DOGE in the post or the slides that were attached, this didn’t seem to deter some investors from hoping that Dogecoin would somehow be involved. Data from CoinGecko shows that over the…

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The general manager of the cryptocurrency exchange Luno Africa, Marius Reitz, claims that business as usual is being maintained and that Genesis Capital’s decision to halt “redemptions and new loan originations” has had no impact on his organization. Reitz noted that there haven’t been “any notable changes in deposits, withdrawals, or trading volumes” at the exchange controlled by Digital Currency Group (DCG). Genesis Capital had reportedly halted customer withdrawals “in response to the tremendous market disruption and lack of industry trust caused by the FTX catastrophe,”. Following Genesis’ declaration, which was also owned by DCG and is a lending partner…

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The International Monetary Fund (IMF) recently stated in a blog post that the failure of the cryptocurrency exchange FTX and the ensuing decline in the cryptocurrency market illustrate the need for improved industry regulation. The site claims that immediate action is also required in Africa, where the crypto market is expanding quickly, to prohibit or deter criminal actors from exploiting crypto assets to assist unlawful operations. According to the most recent blog post from the international lender, only 25% of sub-Saharan African nations have cryptocurrency regulations in place. But according to the most recent “Chart of the Week” from the…

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