SEC issues fresh warning as CBEX resurfaces despite crackdown
The SEC cautioned the public against Crypto Bridge Exchange (CBEX), calling it a Ponzi-like scheme. CBEX resumed operations under the name ST Technologies International Ltd, allowing new registrations and trading.
Kenya wants crypto taxes fast, but offers few answers in return
Kenya's tax authority collected KES 10 billion ($77 million) from crypto traders in the financial year ending June 2024. The Kenya Revenue Authority announced ambitions to collect KES 60 billion ($464 million) annually from the crypto sector.
A timeline of Crypto ponzi scams targeting African Investors since 2016 till date
Nigeria reported losses exceeding $2 billion due to cryptocurrency scams since 2016. The CBEX collapse in April 2025 resulted in estimated losses exceeding ₦1 trillion ($650 million).
Nigeria’s Rise as a Blockchain Powerhouse
Nigeria ranks among the top ten globally for cryptocurrency adoption, with $59 billion in cryptocurrency value received between July 2023 and June 2024. The youthful demographic, with over 60% of the population under 25, is a key driver of blockchain adoption.
Kenya’s Crypto Tax Gamble Threatens Africa’s Digital and Fintech Future
Kenya's proposed 1.5% crypto transaction tax risks driving startups abroad and weakening its fintech leadership. The tax could increase transaction costs, pushing young Africans towards informal systems.
