Tag: Kenya

The masterminds behind the alleged cryptocurrency Ponzi scheme called Bitstream Circle are believed to have stolen more than $10 million in investor funds. The alleged theft became apparent on March 13, 2022, when some of the scheme’s investors encountered problems making withdrawals. Withdrawals Blocked Reports from Kenya have said investors in an alleged crypto Ponzi…

The post Kenyans Lose Millions of Dollars to yet Another Cryptocurrency Scam: Bitstream Circle appeared first on Bitcoin News Miner.

The fund is a branch of SDF's Enterprise Fund. It plans to match investments up to $500,000 from the lead funding source.

The post Stellar Development Foundation debuts $30 million matching fund appeared first on The Block.

Roughly 75% of investors in emerging markets plan on increasing their holdings of cryptocurrency, according to a new study from consumer insight and analytics firm Toluna. The crypto-keen investors in emerging markets overshadows those in developed markets, of which only 57% responded saying they planned to grow their digital investments. Toluna says that crypto is […]

The post Vast Majority of Investors in Emerging Markets Plan to Increase their Crypto Investments appeared first on Coin Bureau.

Scope Markets Group, one of the popular forex and CFDs trading brands, announced on Monday that it has been acquired by Roger Hambury’s Rostro Group in an all-cash deal.

It looks like cryptocurrency could really help with remittance payments and boost worker salaries in Africa. Study in Africa Shows the Power of Crypto A study was conducted in Nairobi, the capital of Kenya. In this nation – and several other nations of Africa – a new industry referred to as microwork has emerged over...

The post How Crypto Can Help with Remittance Payments in Africa appeared first on Live Bitcoin News.

Cardano (ADA) creator Charles Hoskinson is revealing an upcoming project with the potential to narrow the gap between the developed and the developing world. Hoskinson says that an Africa-focused peer-to-peer lending project will be launched on the Cardano blockchain this year. “Another thing that I think is really cool on the horizon we’re doing this […]

The post Cardano Creator Charles Hoskinson Reveals ‘Really Cool’ Upcoming Project, Outlines Biggest Problem Crypto Solves appeared first on The Daily Hodl.

Kenya starts exploring CBDCs and asked the broad public to express their viewpoint on the financial products so let’s read further in today’s latest cryptocurrency news. Kenya starts exploring CBDCs and said that they could positively impact the local financial system but the Central Bank even introduced a discussion paper to find out what the […]

Kenya’s central bank has acknowledged in a recently released document that a central bank digital currency could potentially benefit the country’s financial system. The bank, however, warned that rolling out a CBDC could also pose risks to the same. CBDC’s Impact on Financial Stability The Central Bank of Kenya (CBK) has suggested in a discussion…

The post Kenyan Central Bank Document Discusses Benefits and Risks Posed by CBDC — Public Asked to Comment appeared first on Bitcoin News Miner.

Central Bank Digital Currencies (CBDCs), a phenomenon that took over the global financial system in 2021, is now getting popular among African economies.

The Central Bank of Kenya (CBK) has released its discussion paper on the possibility of a central bank digital currency (CBDC) and is now awaiting feedback from the public regarding the potential benefits and risks associated with it along with the regulatory concerns. Those willing to participate have until May 20, 2022, to submit their comments. In a discussion paper examining the potential use of a digital currency, the central bank said that CDBC solutions could flatten the multi-layered correspondent banking structure and shorten the payment chains. “This discussion paper is part of CBK’s initiatives to ensure informed policy review regarding financial sector innovations. CBK invites the public, industry and stakeholders to review this discussion paper on CBDC and provide feedback and ideas to be considered when assessing the use case for CBDC in Kenya,” it said. According to the financial institution, a CBDC could potentially shield the public from the risk of new forms of private money by providing safer and more trustworthy payment services in comparison to the new forms of money such as stablecoins. Overall, CBDC also presents an opportunity for cyberattacks and other security threats, including data privacy issues. Nigeria became the first country in Africa to launch its central bank digital currency (CBDC), in October last year while Ghana is at the advanced stage of launching its digital currency. Similarly, Zambia is also carrying out research on CBDCs. Currently, Kenya ranks 5th in the 2021 Global Crypto Adoption Index, according to blockchain analysis firm Chainalysis. As of June 2019, 91 countries are currently involved in sovereign digital currency research with just 14 advancing to the pilot stage, according to the Atlantic Council . Overall nine countries have already implemented a CBDC.

The post Kenya Releases Discussion Paper on CBDCs appeared first on Cryptoknowmics-Crypto News and Media Platform.

Kenya's central bank highlighted CBDC's merits and asked the broad public to express their viewpoint on the financial product.