The report cautions that financial institutions should supplement all sanctions risk mitigation strategies to ensure that cryptocurrencies are not being used to transact with sanctioned countries.
Naomi Assia & Co Law Offices
Cybersecurity Comparative Guide for the jurisdiction of Israel, check out our comparative guides section to compare across multiple countries
The 2020 Findexable Global Fintech Rankings report placed Kenya number 63 in the global top 100 rankings of the world's leading fintech hub countries in Africa.
Electronic signature, when made under certain conditions, has in Moroccan law the same legal value as the handwritten one.
On the 25th May 2021, the Central Bank of Nigeria (CBN) issued a circular to financial institutions notifying them of the release of the Regulatory Framework for Non-Bank Acquiring in Nigeria (the "Framework").
Innovation, technology, and the continuous need for customers to access convenient products and services have led to the evolution of the Financial Technology (Fintech) industry.
There was, however, no unified document containing the requirements for each of these licensing categories.
Banwo & Ighodalo
As part of its efforts at ensuring investor protection and encouraging innovation in the conduct of securities business in Nigeria, the Securities and Exchange Commission ("SEC")'s issued Rules on...
Banwo & Ighodalo
Banwo & Ighodalo is proud to yet again, be the sole Nigerian contributor to the Chambers & Partners FinTech Global Practice Guide (the "FinTech 2021 Guide").
On December 9, 2020, the Central Bank of Nigeria (CBN) issued a circular, recategorizing Payments System licensing in Nigeria into four major categories: Switching and Processing...
Bitcoin, the leading cryptocurrency, has seen its value balloon by more than 100% year-to-date, soaring to an all-time high of more than USD 60,000. Nigerians, many of whom are battling poverty...
Robo-Advisors (sometimes spelt as Robo-Advisers) are digital investment advisory platforms that provide automated, algorithm-driven financial planning services with little to no human supervision.
$69,000,000 (sixty-nine million US Dollars). That is how much the first Non-Fungible Token ("NFT") was sold at an auction house.
Cryptocurrency has been the subject of many discussions and is presently taking the world by storm.
Generally, skepticism expressed about cryptocurrencies stems from their classification as high-risk assets'' which are extremely volatile and speculative in terms of price.
Cryptocurrency is one of the innovative applications of blockchain technology to finance. Using cryptography, this innovation introduces a new way to create, own, store, and...
Udo Udoma & Belo-Osagie
In December 2020, the Central Bank of Nigeria (the "CBN") published a circular on the licence categorisations for operators in the Nigerian payments system (the "Circular").
The growth in technology has led to a sudden shift in the storage of information from physical storage systems to online storage platforms.
Most people are more familiar with Fungible Tokens such as Bitcoin, Ethereum, Ripple and other cryptocurrencies. But, for good measure, cryptocurrencies are a digital currency.
In the wake of the recent Mirror Trading International Proprietary Limited debacle, the Financial Sector Conduct Authority ("FSCA") has again cautioned investors against investing in crypto assets...