?> African Archives - BK Media Blog

South African Crypto Exchange Ceases Operations Less Than a Month After Suspending BTC Withdrawals – Exchanges Bitcoin News

A South African cryptocurrency exchange, Ice3x, announced on April 6, that it will permanently stop operations, less than a month after suspending bitcoin and litecoin withdrawals. Ice3x, which one of the oldest crypto exchange in that country, says it came to this decision after lawyers advised the firm to start liquidation proceedings. ‘Extreme Pressure’ In … Read more

Binance Abruptly Delists South African Rand Trading Pairs After Currency Fails to Meet ‘High Level Standard’ – Exchanges Bitcoin News

In an abrupt move, Binance South Africa announced on March 31 that all South African rand (ZAR) trading pairs will be delisted on April 2. The crypto exchange adds in a statement that “all trade orders will be automatically removed after 10.00 UTC on April 1” in each respective trading pair. Binance concludes by requesting … Read more

A Forex Broker Transfers 1,200 BTC Belonging to the Mirror Trading International to a South African Liquidator – Regulation Bitcoin News

Fresh reports from South Africa suggest that a total of 1,200 bitcoins belonging to the now-defunct Mirror Trading International (MTI) were recently transferred from FX Choice to an appointed liquidator. The reports add the transfer had been sanctioned by the Financial Sector Conduct Authority (FSCA), the country’s financial industry regulator. Confirmation of the Transfer According … Read more

South African Regulator Warns Crypto Investors to ‘Be Prepared to Lose All’ Following Collapse of Bitcoin Trading Company MTI – Regulation Bitcoin News

The Financial Sector Conduct Authority (FSCA) has issued what it terms crypto health warning after receiving many complaints from South African victims of crypto scams. In the warning, the FSCA reminds prospective investors that crypto-related investments are currently not regulated. Therefore, investors have no recourse against anyone should they get duped. Cryptocurrencies Are High-Risk Assets … Read more

African Hip Hop Artist Davido ‘Thinking of Starting a Bitcoin Trading Company’ – Emerging Markets Bitcoin News

Popular Nigerian hip hop artist Davido has sparked off a buzz about crypto assets after tweeting about his intention to start a bitcoin trading company. With the short tweet, Davido becomes the latest African celebrity to express interest in starting a crypto business. Senegalese singer Akon is another prominent African personality to embrace crypto assets. … Read more

South African Taxpayers Who Fail to Disclose Income From Cryptocurrency Trading Face Possible Jail Time – Taxes Bitcoin News

According to a report, the South African Revenue Service (SARS) has sent out audit requests to taxpayers asking them to disclose their cryptocurrency trades and purchases. Taxpayers that fail to correctly disclose their income from bitcoin or other cryptocurrencies may be “liable to a fine or imprisonment for up to two years.” SARS Tracking Non-Compliant … Read more

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