US Prosecutors Charge 2 Foreign Nationals Over Bitcoin Investment Scam

Two Nigerian nationals have been indicted by U.S. prosecutors for allegedly running a fraudulent bitcoin investment scheme. The Oregon District Attorney’s Office announced Wednesday that the defendants, Onwuemerie Ogor Gift and Kelvin Usifoh, are charged with 11 counts of wire fraud, as well as conspiracy to commit wire fraud and money laundering. From December 2017…

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Nigerian Banking Regulator Warns Bitcoin’s Disintermediation Is a ‘Critical Concern’

The director and chief executive of the Nigeria Deposit Insurance Corporation (NDIC) has expressed concerns about cryptocurrencies and disintermediation, English-language Nigerian news outlet The Sun reported Dec. 12. Disintermediation is when consumers begin investing directly in markets, rather than through intermediates like banks. The NDIC was established in 1988 to ensure safety in the just-liberalized…

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Report: Emerging Markets See Sharp Growth in Cashless Transactions

Economy & Regulation South Africa is the most cryptocurrency-friendly country in Africa, according to the 2018 World Payments Report by French banking group BNB Paribas and IT company Capgemini. Compared to other major economies on the continent, South Africa has allowed digital currency-based payments, trades and investments to flourish almost unhindered. Also read: African Cryptocurrency Exchanges…

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