Author: Opeloyeru Batly

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…

South Africa’s stablecoin market is giving policymakers a closer look at how digital currencies can affect emerging economies. The experience comes as stablecoins move beyond crypto trading and become part of cross-border payments, settlement, and digital finance. The International Monetary Fund (IMF) has warned that stablecoins can improve payment efficiency while creating new risks for monetary policy and capital flows. Its recent analysis shows why emerging markets need to understand how people use stablecoins before deciding how to regulate them. South Africa offers a useful case. The country has a developed financial system, an active crypto market, and a growing…

Kenya’s new crypto licensing regime is pushing major digital asset platforms toward formal registration. Binance, Luno, Yellow Card and other industry players are now preparing to operate under the country’s Virtual Asset Service Providers (VASP) framework. The move comes after Kenya gazetted its Virtual Asset Service Providers Regulations, 2026 in July. The regulations operationalise the Virtual Asset Service Providers Act, 2025 and create a formal licensing system for crypto businesses operating in or from Kenya. The new framework also gives existing operators a transition period. They must comply with the licensing requirements by 4 November 2026. Kenya’s Crypto Licensing Rules…

South Africa’s proposed cross-border crypto rules have drawn strong reactions from the country’s digital asset industry. Among the first to respond is VALR, the country’s largest crypto exchange. While the company supports stronger regulation, it believes parts of the proposal could hurt legitimate businesses instead of stopping illicit financial activity. The response follows the publication of a draft Crypto Asset Manual by the National Treasury and the South African Reserve Bank (SARB). The proposal would regulate cross-border crypto transactions under South Africa’s capital flow management framework. It would also stop companies from transferring crypto assets abroad while allowing eligible individuals…

Nigeria has taken another major step toward integrating digital assets into its formal tax system. Under the new tax framework, crypto businesses will now pay a 30% corporate income tax on profits earned from their operations in Nigeria. The measure forms part of Nigeria’s broader tax reforms, which took effect on 1 January 2026. It applies to Virtual Asset Service Providers (VASPs), including crypto exchanges, brokers, custodians, and other licensed digital asset businesses. The reform signals the government’s intention to treat crypto firms like other corporate taxpayers while providing greater regulatory clarity for the industry. What the New Tax Rules…

South Africa is tightening oversight of cross-border cryptocurrency transactions. However, the proposed framework stops short of imposing a broad crypto ban. On 3 August 2026, the National Treasury and the South African Reserve Bank (SARB) released a draft Crypto Asset Manual. It explains how cross-border crypto transactions should operate under the country’s capital flow management framework. The proposal would stop companies from transferring crypto assets abroad. It would still allow individuals to make eligible transfers through authorised providers and within existing foreign exchange allowances. What the Draft Rules Propose The proposed rules would classify cross-border crypto transfers as regulated capital…

Kenya is tightening its fight against financial crime by giving investigators new powers over crypto wallets. The move strengthens the country’s anti-money laundering framework and signals a tougher stance on the misuse of digital assets. President William Ruto recently signed the Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Act into law. The legislation allows investigators to trace, freeze, and seize crypto wallets linked to money laundering, terrorism financing, fraud, and other financial crimes. It also aligns Kenya more closely with global standards set by the Financial Action Task Force (FATF). Kenya Gives Investigators Greater Authority Over Crypto Wallets…

For decades, moving money across African borders has been slower and more expensive than it should be. Businesses routinely face high fees, long settlement times, and multiple correspondent banks before funds reach their destination. Yet a new generation of payment companies believes stablecoin infrastructure could finally change that. The latest example comes from Quidax, which has expanded its stablecoin infrastructure to more than 21 countries and 14 currencies. However, the announcement is only one piece of a much larger story. Across Africa, payment providers, fintechs, banks, and regulators are increasingly treating stablecoins as payment infrastructure rather than speculative crypto assets.…

For years, cryptocurrency was largely viewed as an investment. Today, South Africa is showing what happens when digital assets move beyond trading and become part of everyday commerce. The latest example comes from fintech company 6DOT50, which has introduced a cryptocurrency payment solution for motor dealerships. However, the bigger story is not about buying cars with Bitcoin. It is about how South Africa is quietly building the payment infrastructure that allows consumers to spend digital assets while merchants continue receiving local currency. That shift reflects a broader trend across the country’s fintech ecosystem. Companies are increasingly focusing on practical crypto…