Recent reports indicate that Nigerian authorities are intensifying their efforts to clamp down on crypto trading activities within the country. The focus has shifted towards targeting peer-to-peer (P2P) platforms such as OKX, Binance, KuCoin, and Bybit. A circulating document on social media platforms has outlined specific instructions for financial institutions to identify and impose restrictions
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In response to reports of state actors using Tether’s USDT tokens to bypass US sanctions, the stablecoin issuer has taken a firm stance on regulatory compliance. Tether has vowed to freeze any addresses linked to sanctioned entities, aligning with the Office of Foreign Assets Control (OFAC) SDN list. This proactive approach reflects Tether’s dedication to
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In a recent interview, Anthony Scaramucci, the founder of Skybridge Capital, made a bold prediction regarding the future of Bitcoin. He suggested that the price of Bitcoin could potentially reach $200,000 following its upcoming halving event. This forecast comes at a time of increased volatility in the cryptocurrency markets, with geopolitical tensions and economic uncertainty
Binance, the world’s largest cryptocurrency exchange, faced a ban from the Indian government due to its lax adherence to regulatory frameworks, including the Prevention of Money Laundering Act (PMLA) and the taxation framework for virtual digital assets (VDA). However, after agreeing to pay a hefty penalty of approximately $2 million, Binance is now set to
Binance, a leading cryptocurrency exchange, recently made a significant move by converting its Secure Asset Fund for Users (SAFU) into Circle’s USD Coin (USDC) stablecoin. This conversion was confirmed through on-chain data, showcasing the company’s commitment to enhancing the reliability and stability of SAFU by utilizing a trusted, audited, and transparent stablecoin like USDC. USDC
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Recently, a high-ranking Binance executive, Nadeem Anjarwalla, found himself at the center of a legal storm involving allegations of currency manipulation and illicit fund transactions in Nigeria. Anjarwalla managed to escape custody in Nigeria and was later located in Kenya, where efforts are being made to extradite him back to Nigeria with the help of
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Bitcoin, the popular cryptocurrency, has the potential to reach staggering price levels with the full implementation of exchange-traded funds (ETFs). According to Bitcoin analyst Willy Woo, the digital asset could see price targets of $91,000 at the bottom of the bear market and $650,000 at the top of the bull cycle if investors follow the