Africa Crypto Week Summary: Ghana to Implement Crypto Regulations, Binance to Enforce Tighter Policies in South Africa, Nigeria to Ramp Up Enforcement Actions

This week in African cryptocurrency updates, Ghana is set to introduce crypto regulations by 2025 while Binance is tightening its rules in South Africa. Additionally, Nigeria is increasing its scrutiny of unregulated companies.

The regulatory environment across Africa is evolving as the crypto sector continues to establish itself. Ghana is preparing to implement cryptocurrency regulations. Binance is also set to revise its regulation standards to meet new regulations in South Africa that will take effect in late April 2025. At the same time, Nigeria is intensifying its efforts against unregistered crypto entities, with legal action taken against Afriq Arbitrage System (AAS) and its CEO.

These stories highlight the main developments from the African continent this week:

Ghana Crypto Update: Central Bank Plans to Regulate Digital currency

The Central Bank of Ghana has announced a deadline of September 2025 to regulate cryptocurrencies, which will include various popular Solana meme coins. Governor Johnson Asiama revealed this during a summit in Washington, DC, marking the country’s commitment to overseeing this sector.

This initiative aligns with a broader movement across the continent towards standardized regulations for digital currency enterprises. Nigeria has also recently adopted legislation to conform with global crypto and securities regulatory frameworks.

This trend showcases a continent that is increasingly recognizing the lasting nature of cryptocurrency. The sector has been around for more than ten years, and government bodies are beginning to acknowledge its significance.

Explore: 9+ Best High-Risk, High–Reward Cryptos to Invest in April 2025

South Africa Crypto Update: Binance Implements New User Guidelines for Regulatory Compliance

The prominent exchange Binance has reported new stricter user requirements in South Africa effective April 30.

This change comes in response to the country’s newly enforced Travel Rule, overseen by South Africa’s Financial Intelligence Centre.

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The Travel Rule requires crypto asset service providers to gather and share information regarding the senders and recipients involved in crypto transactions. Accordingly, Binance will now mandate that users supply details such as names, addresses of recipients, and specifics of exchanges for every transaction.

These regulations form part of a comprehensive regulatory scheme recently adopted by South Africa. Binance intends to adhere to these changes while ensuring its ongoing operations in this dynamic market. Users who do not comply by providing the necessary information may experience disruptions in their transactions.

Such changes may lead to dissatisfaction among some crypto enthusiasts who value anonymous or pseudonymous transactions. Nonetheless, Binance is focused on safeguarding its trading market position, solidifying itself as a protocol for acquiring some of the top cryptocurrencies in 2025.

Nigeria Crypto Update: Increased Efforts Against Unregistered Crypto Exchanges

The Economic and Financial Crimes Commission (EFCC) of Nigeria is heightening its efforts against cryptocurrency firms.

Recently, it filed charges against Afriq Arbitrage System (AAS) and its CEO, Jesam Michael, claiming that the company was involved in investment fraud, which resulted in losses approaching $850,000 for users.

AAS’s operations were alleged to have breached Section 44(1) of the Banks and Other Financial Institutions Act, 2020, and the EFCC is pursuing legal action against the firm under this legislation.

Last year, Binance was a central player in crypto enforcement throughout Africa after Nigeria charged two of its executives with various offenses including money laundering and tax evasion.

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The article Africa Crypto Week In Review: Ghana to Regulate Crypto, Binance To Adopt Stricter Measures in South Africa, Nigeria Intensify Crackdowns was originally posted on 99Bitcoins.