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South Africa: Bank Drops Bitcoin Exchanges Citing ‘Regulatory Clarity’

News Bitcoin (BTC) exchanges in South Africa will lose their banking support after a local bank confirmed it was closing their accounts. As local internet magazine My Broadband reported on Nov. 19, FirstRand Bank (FNB) — one of the largest financial institutions in South Africa — sent letters rega..

BRICS Nations Discuss Creation of New Crypto For Unified Payment System

News According to one official in attendance, members of international association BRICS discussed the creation of a new cryptocurrency at a recent summit. On Nov. 14, Russian financial news outlet RBC reported that the director-general of the Russian Direct Investment Fund (RDIF) Kirill Dmitriev ..

Johannesburg Authorities Refuse to Pay Hackers’ Bitcoin Ransom

News Authorities in Johannesburg are holding firm in their refusal to pay a ransom of 4 Bitcoin to hackers who targeted municipal systems last week. In a statement posted to its official Twitter handle on Oct. 28, the Johannesburg city council confirmed the attack had affected services that includ..

Hackers Breach Johannesburg’s Civil Website Demanding BTC Ransom

News Hackers have compromised the website of the city of Johannesburg, South Africa, and demanded ransom in Bitcoins (BTC). The city announced the hack on its official Twitter account on Oct. 25. The city wrote that it had “detected a network breach which resulted in unauthorised access to its inf..

Ex-CEO of Google Africa: Bitcoin a ‘Gift’ That Will Change Humanity

News Computer scientist and general manager of WeWork South Africa, Stafford Masie, has said that Bitcoin (BTC) will change the future of humanity more than any other technological innovation. In a keynote delivered at the SingularityU South Africa Summit on Oct. 16, Masie — formerly the CEO of G..

South Africa: The Next Frontier for Crypto Exchanges

Expert Take Africa is set to be the next battleground for major crypto asset exchanges, as the conditions on the continent are favorable for virtual currency, and as a leading economy, South Africa could lead the charge in this digital transformation. We will examine how the economic situation and..

South African Crypto Exchange Hits Milestone 3M Wallets, $5M Volume

News Major South Africa’s crypto exchange Luno has continued growing, having processed more than $5 million worth of crypto in August 2019. Marius Reitz, general manager for Africa at Luno, claimed that over 80 million South African rands ($5.4 million) worth of crypto has been completed on Luno’s..

Bitcoin Fraud: Aggrieved Investors Torch House of Suspected Scammer

A South African bitcoin entrepreneur allegedly involved in orchestrating an elaborate bitcoin fraud scheme has lost his home to flames, thanks to angry investors. The incident took place after news broke out that hacker had gotten access to investors’ funds and the investors stormed the office to ge..

South African Payment Gateway Drops BTC Over Fees and Network Congestion

On July 12, South African payment gateway service Payfast announced the company is dropping bitcoin core (BTC) payments due to network congestion and high fees. Payfast emphasized that BTC has a number of limitations and design flaws which makes it an “impractical substitute for cash.” Also read: G..

Mob Burns Down Purported Crypto Ponzi Schemer’s House in South Africa

News An angry mob in Ladysmith, South Africa has reportedly torched the residence of Sphelele Mbatha, known as Sgumza, a manager of alleged crypto Ponzi scheme Bitcoin Wallet. The mob was likely a collection of victims who lost money through Bitcoin Wallet, according to the report by Ladysmith Gaz..

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