Author: Opeloyeru Batly

South Africa’s Lengau supercomputer has faced a crypto-mining attack, exposing security concerns around the ageing system as the country prepares to replace it with a more powerful machine. The breach affected parts of the Lengau high-performance computing environment at the Centre for High Performance Computing (CHPC), which operates under the Council for Scientific and Industrial Research (CSIR). The disclosure comes as South Africa prepares a major upgrade that will reduce its reliance on the decade-old system. Lengau Supercomputer Hit by Crypto-Mining Attack The security incident occurred in late May 2026. According to a written parliamentary response from South Africa’s Minister…

Binance has restricted transactions involving A7 Nigeria, A7 Africa and PilotFinance Ltd, three crypto platforms linked to Nigeria, as part of a wider compliance action affecting 17 crypto-asset service providers and platforms. The restrictions took effect for the three Nigeria-linked platforms on August 13, 2026. Binance said it will no longer process transactions involving the listed entities after their respective effective dates. The move comes as global regulators increase scrutiny of crypto platforms and their connections to sanctioned entities and jurisdictions. Binance Restricts Three Nigeria-Linked Crypto Platforms The three affected platforms are A7 Nigeria, A7 Africa and PilotFinance Ltd.A7 Nigeria…

Nigeria’s Securities and Exchange Commission (SEC) has proposed a ₦30 million registration fee and ₦2 billion minimum capital requirement for digital asset exchanges as it moves to strengthen regulation of the country’s crypto industry. The proposals form part of the SEC’s new Digital and Virtual Asset Operations, Custody and Markets Rules, released on August 20, 2026. The framework would introduce higher financial requirements and broader obligations for companies operating across Nigeria’s digital asset market. The proposed changes could significantly raise the cost of operating a regulated crypto business in Nigeria. SEC Proposes ₦30M Registration Fee for Crypto Firms Under the…

X is reportedly exploring stablecoins such as USDC as a potential way to pay creators and other content providers on the platform. The discussions remain ongoing, and X has not confirmed that it will adopt USDC for creator payments. The reported plan comes as X prepares to replace its existing Creator Revenue Sharing programme with a new Original Content Rewards system. That transition could give the platform an opportunity to rethink how it pays creators across different markets. Circle’s USDC is among the assets reportedly being considered, although there is no confirmation that X has selected the stablecoin. The talks…

Nigeria’s Securities and Exchange Commission (SEC) is seeking greater access to transaction data from crypto firms as it moves to strengthen oversight of the country’s digital asset market. The Commission published its proposed Digital and Virtual Assets Operations, Custody and Markets Rules on August 20, 2026. The proposal covers activities such as digital asset trading, custody, transfers, settlement and tokenisation. It also applies to firms that operate in Nigeria, serve Nigerian residents or target the Nigerian market. The development signals another step towards tighter supervision of Nigeria’s growing crypto industry. SEC Moves to Strengthen Crypto Transaction Monitoring Under the proposed…

Visa is searching for a new stablecoin settlement partner after Mastercard completed its acquisition of BVNK earlier this month. The move highlights the growing competition between the two global payments networks as stablecoins become part of mainstream payment infrastructure. Visa is seeking a partner that can support stablecoin settlement and over-the-counter (OTC) transactions across several major markets. The company is looking for a firm with cryptocurrency exchange licences in the United States, Canada, the United Kingdom and Singapore. The search comes shortly after Mastercard completed its acquisition of BVNK on August 3. Mastercard said the deal would strengthen its ability…

Kastelo, a South African fintech and crypto arbitrage company founded by Democratic Alliance (DA) Federal Finance Chairperson Mark Burke, is facing scrutiny from the South African Reserve Bank (SARB) over alleged exchange-control violations. The Reserve Bank claims Kastelo’s business model may have helped move billions of rand offshore through clients’ foreign investment allowances. The allegations form part of an ongoing investigation into the company’s crypto arbitrage operations. Kastelo has rejected the allegations. The company says it acted on behalf of clients, used their owners investment allowances, and provided the required mandates and information before conducting the transactions. Why Kastelo Crypto…

Yellow Card has moved away from the retail crypto exchange business and is now focused on stablecoin infrastructure for businesses. The African fintech discontinued its consumer-facing retail app in January 2026 as it shifted toward institutional and enterprise clients. The decision marks a major change for a company that built its early presence by giving individuals access to cryptocurrency across African markets. Yellow Card now positions itself as a stablecoin payments and financial infrastructure provider for businesses operating across emerging markets. The shift also reflects a wider change in the crypto industry. Stablecoins are increasingly finding use beyond trading. Businesses…

Nigeria’s Central Bank has opened its regulatory sandbox to virtual asset firms for the first time under a dedicated testing track. The move gives stablecoin providers, wallet operators, custody firms, and payment infrastructure companies a controlled environment to test their products under regulatory supervision. The Central Bank of Nigeria (CBN) opened applications for the second cohort of its Regulatory Sandbox Programme on August 12, 2026. Applications will remain open until August 31. The development marks another step in Nigeria’s shift toward closer supervision of the digital asset sector. It also gives the CBN a direct way to study new virtual…

Crypto ATM operations have come under renewed scrutiny after Australian financial crime regulator AUSTRAC suspended the registration of Cryptolink, forcing the operator to shut down its network of 96 cryptocurrency ATMs. The three-month suspension follows concerns about Cryptolink’s anti-money laundering (AML) controls and its ability to manage high-risk transactions. The case highlights growing regulatory pressure on crypto ATM operators as authorities examine how these machines can be exploited for scams, money laundering, and other financial crimes. Why Crypto ATM Operations Were Halted AUSTRAC suspended Cryptolink’s registration after finding continued compliance problems. The regulator said the operator failed to meet key…