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African crypto usage spurs Luno as customers reach 7M yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
March 17, 2021 It’s been over a month since the Central Bank of Nigeria (CBN) issued a communiqué prohibiting financial institutions from dealing with local cryptocurrency exchanges and ordering the shutdown of crypto traders’ accounts. As a result, cryptocurrency startups could no longer accept deposits or process withdrawals in the country. Mixed reactions have trailed the early February announcement. Some support the bank’s attempts to crack down on the opaque, volatile digital currency. Others question the goals of the policy, which has stifled the livelihood of young Nigerians who are using crypto to try to escape poverty and staggering unemployment. And many more players and stakeholders have excoriated the CBN’s inability to see digital currencies as a harnessable tool for economic growth. ....
Bitcoin settles around $56,000 after record $61,000 over weekend The world’s most popular cryptocurrency, Bitcoin, surged to a record $61,000 (+/- R900,000) at the weekend. The controversial cryptocurrency seems to be gaining traction with more investors on a daily basis, with influential tech heavyweights such as Elon Musk sticking his hand up and declaring himself a fan. His electric vehicle manufacturer, Tesla, has bought $1.5bn worth of the cryptocurrency. Still, many remain sceptical of bitcoin. Despite the record high, it ‘retreated in the following days’, according to reporter Eric Lam. Speaking to Bloomberg, Luno’s Vijay Ayyar says the volatility is due ‘to investors taking some profit after Bitcoin’s recent run’. – Jarryd Neves ....