Bank of Uganda (BoU) Welcomes Crypto Businesses into its Regulatory Sandbox

In a correspondence with the Blockchain Association of Uganda, the Bank of Uganda (BoU) has indicated that it is willing to consider crypto businesses into the bank’s regulatory sandbox.

In the email to Mr. Kwame Rugunda, Chairman, Blockchain Association of Uganda, the Director at the BoU’s National Payments Service, Mr. Andrew Kawere, said:

https://bitcoinke.io/2022/06/bank-of-uganda-welcomes-crypto-into-regulatory-sandbox/

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National Bank of Ethiopia Warns Public the Use of Cryptocurrencies is Illegal

The National Bank of Ethiopia (Central Bank of Ethiopia) is warning citizens not to engage in ‘illegal’ transactions in digital currencies.

The National Bank of Ethiopia (NBE) said digital currencies like bitcoin have not been recognized by the NBE as a transactional and payment method.

See full report here:

https://bitcoinke.io/2022/06/national-bank-of-ethiopia-warns-use-of-cryptocurrencies-is-illegal/

📢📢Developers Assemble! 👩🏾‍💻🧑🏿‍💻

Are you ready to hack Celo?


This weekend the @Celoorg ecosystem in #Kenya hosting yet another Celo Code Jam session!

Details

🏛️: Jenga Leo Coworking
📆:11/06/2022
🕒: 10 am - 6 pm
🔗:https://forms.gle/LJziRTj7n76cr8nKA

Come let's hack Celo together!

Binance Enabled $2.35 Billion in Money Laundering and Illegal Activity, a Reuters Investigation Reveals

For five years, the world’s largest cryptocurrency exchange Binance served as a conduit for the laundering of at least $2.35 billion in illicit funds, a Reuters investigation has found.

Reuters also said it reviewed data which showed that from 2017 to 2022, buyers and sellers on the world’s largest darknet drugs market, a Russian-language site called Hydra, used Binance to make and receive crypto payments worth $780 million.

See the full investigation synopsis here:

https://bitcoinke.io/2022/06/binance-money-laundering-investigation-by-reuters/

Kenya One of the First Markets as MoneyGram Launches Global Crypto-to-Cash Service on Stellar Network

Moneygram hailed the services saying that the 'settlement with MoneyGram will occur in near-real-time using USDC, enabling an accelerated collection of funds, improving efficiencies and reducing risks.'

See details:

https://bitcoinke.io/2022/06/kenya-first-market-for-moneygram-global-crypto-to-cash-service/

Kenya🇰🇪 Central Bank to Regulate Financial Super Apps Like M-PESA

The reason behind the focus on super apps is that these platforms have the potential to account for more transactions that have traditionally been handled by banks directly.

https://bitcoinke.io/2022/06/kenya-central-bank-to-regulate-financial-super-apps-like-m-pesa/

Kenyans 🇰🇪 Lose $8.5 Million to The BitStream Circle Ponzi Scheme

BitStream Circle gained more than 10, 000 followers on its Telegram page in a short time. To be added to the 'Bit Elite Team' group, one had to make a $20 (KES 2, 340) deposit.

See story details here:

https://bitcoinke.io/2022/06/kenyans-lose-millions-to-bitstream-circle-ponzi-scheme/

Kenya’s Latest Forensics Lab to Investigate Rising Cryptocurrency Fraud

Kenya’s National Police Service has launched a Forensics Lab that is expected to fast-track investigations into cyber-crimes, with the Kenya president noting the rising cases of crypto fraud.

Kenya continues to be a hotspot for cyber crimes, in particular blockchain/crypto related scams.

The forensic laboratory is a world-class facility comparable to any in the developed world and across other established investigative jurisdictions. It encompasses the physical structure equipped with ten specialized state-of-the-art laboratories, which include:

https://bitcoinke.io/2022/06/kenya-forensics-lab-to-investigate-rising-crypto-fraud/

[WATCH] Kenya 🇰🇪 Central Bank Governor Warns Against Imposing Cryptocurrencies By Citing El Salvador

“You cannot leave the population behind. The population may not buy the whole thing. You can see what happened in El Salvador." - Njoroge, Governor, Central Bank of Kenya

See the context around the discussion below:

https://bitcoinke.io/2022/06/cbk-governor-warning-on-imposing-crypto/

‘Blockchain For Social Good’ Project by UABA Kicks Off in Zambia🇿🇲 with NEAR Protocol and Zambian Government Support

The project will demonstrate a blockchain payment system to disburse the basic needs incentive among other things.

See full details below on the project which seeks to provide a viable use case for blockchain in Zambia:

https://bitcoinke.io/2022/06/blockchain-for-social-good-project-by-uaba-kicks-off/

How Salary Advances on Celo Offer Mobile Financing Solutions to Kenyan Employees

The pilot explores how lending using DeFi apps built on Celo could offer the following:

* Better interest rates
* Faster loan delivery
* Reduced administrative overhead

See the full pilot details and video of the pilot in action here:

https://bitcoinke.io/2022/06/salary-advances-on-celo-in-kenya/

According to the World Bank, remittance fees are frequently made up of three components:

* A fee charged for sending a certain amount
* A margin taken on the exchange rate when remittances take place
* A fee charged to the recipient of the funds

https://bitcoinke.io/2022/06/world-bank-poor-transparency-to-blame-for-high-cost-of-remittances/

Kenyan🇰🇪 Detectives Nab Students Hacking Credit Cards to Buy Bitcoin

In the sophisticated crime, the students create fake email accounts which they use to hack credit cards and use them to buy bitcoins that are then converted back into KES.

https://bitcoinke.io/2022/06/kenya-detectives-nab-students-buying-bitcoin-from-stolen-credit-cards/

The President of Central African Republic🇨🇫 Remains Bullish Despite Bitcoin Downturn

President Faustin-Archange Touadera is unfazed by the recent price slump of crypto assets, indicating that the country's decision to adopt bitcoin remains the right path

https://bitcoinke.io/2022/06/the-president-of-central-african-republic-car-remains-bullish-despite-bitcoin-downturn/

The Nigerian🇳🇬 Stock Exchange Plans to Adopt Blockchain in 2023 to Lure Youth Traders

“For a lot of young Nigerians, that is the kind of technology they adopt and we want to see how we can deploy it to grow our market.” – CEO, Nigeria Stock Exchange

https://bitcoinke.io/2022/06/nigerian-stock-exchange-to-adopt-blockchain/

More 🟥 for BTC and ETH this Sunday!

Here is some hope though:

https://bitcoinke.io/2022/06/bitcoin-falls-below-18k-dollars/

Cheers to all fathers doing their best, you are appreciated!

Stablecoins Surpass 15% of Crypto Market as $USDC Gains on $USDT

When you look at crypto rankings, you will see 3 stablecoins in the top 10 digital currencies:

* Tether ( $USDT) @ $68.5B
* USD Coin ( $USDC) @ $54.3B
* Binance USD ( $BUSD) @ $17.3B

https://bitcoinke.io/2022/06/stablecoins-surpass-15-percent-crypto-market-cap-on-usdt/

EXPLAINER GUIDE: How To Use the Sarafu Network and Get Sarafu Tokens Using USSD Shortcodes in Kenya 🇰🇪

Sarafu is the most successful and practical deployment of blockchain-based tokens in real-world use case in Kenya.

The network has transacted millions of dollars with over 50K users, and having already been deployed by the Kenya Red Cross in humanitarian efforts.

Sarafu is currently being used in low-income neighborhoods in Kenya to substitute for a lack of physical cash when purchasing goods and services.

To try out Sarafu for yourself and community / friends today, you’ll need to follow three simple steps:

https://bitcoinke.io/2022/06/how-to-get-and-use-the-sarafu-network-tokens/

EXPLAINER GUIDE: How to Purchase $USDC Using Kenya Shillings (KES)🇰🇪 on MoneyGram

Unlike most wallets, you also get a username that people can select when they are sending funds to you.

One of the things that you can do with the service includes:

* Get $USDC for cash
* Get cash for $USDC

https://bitcoinke.io/2022/06/how-to-purchase-usdc-using-kenya-shillings-on-moneygram/