Africa Crypto Announcement Weekly Recap: Nigeria Trading protocol In Kenya, South Africa Regulatory Action, Ghana Central Bank Regarding VASP Registration

Africa crypto headlines recap: Roqqu makes its move into Kenya while South Africa intensifies its fight against scams. Ghana clarifies regulations on VASP registration.

Nigerian trading network Roqqu has joined forces with a Kenyan startup as it targets growth in the East African region. On the other hand, South African authorities are ramping up efforts to tackle fraud in the digital crypto arena.

In Ghana, the Central Bank is poised to release guidelines regarding the registration of Virtual Asset Service Providers (VASPs). Such clarity is expected to foster more business establishments, thereby providing users with opportunities in the next 1000X cryptos.

Let’s briefly examine these continental updates below:

Kenya Crypto Updates: Nigerian Exchange Takes Over Kenyan Startup

Nigerian crypto asset exchange Roqqu has secured a Kenyan startup named Flitaa as part of its expansion strategy in the East African region.

Flitaa, established in 2019, operates across Kenya, Tanzania, Uganda, and Ghana. Roqqu’s acquisition of the startup aims to establish its presence as a comprehensive pan-African network, increasing investment in some of the top cryptocurrencies available. 

The East African trading market presents a promising opportunity for the Nigerian enterprise. Both Kenya and Uganda are English-speaking nations that offer regulatory environments favorable to foreign investors.

Kenya’s initiative to pass the Virtual Assets Providers Bill will provide clarity for foreign investors seeking to enter the trading market.

Roqqu is making early investments in this potential growth, aspiring to solidify its position as a key player in these markets.

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South Africa Crypto Updates: Authorities Tackle Online Fraud

The Financial Sector Conduct Authority (FSCA) of South Africa has declared its commitment of 200 million Rand over the next 18 months to counteract online scams.

This initiative comes as South Africa seeks to address its financial crypto market regulatory challenges and modernize its framework.

Sadly, crypto asset has become entangled with various scams. The country has witnessed notorious incidents, including the rekt of approximately 70,000 Bitcoin from the Africrypt platform in 2021.

WARNING FOR FINANCIAL INFLUENCERS

The Financial Sector Conduct Authority (FSCA) of South Africa is addressing the surge of unregulated financial influencers, or “finfluencers,” providing advice on prominent social media platforms.

As of April 2025, the FSCA is investigating… pic.twitter.com/nPCJFQIyWu

— Business Explainer (@BuzinessX) April 7, 2025

Investing in the fight against online scams could positively impact the cryptocurrency sector, which has been burdened by the spread of these fraudulent schemes.

Ghana Crypto Updates: Central Bank Rolls Out Registration Guidelines

Following months of signals about impending regulations, the Central Bank of Ghana has released a directive mandating all virtual asset service providers to register by August 15.

This directive from the Central Bank aims to align with international standards on the disclosure and compliance of digital currency exchanges.

Historically, Ghana had minimal regulatory oversight in the crypto sector. However, rising adoption within the local crypto market and external pressures have prompted this change.

Crypto stakeholders are expected to adhere to this deadline to maintain their operations within the market.

DISCOVER: 16 Next Crypto to Explode in 2025: Expert Cryptocurrency Predictions & Analysis

The post Africa Crypto Announcement Week in Review: Nigeria Trading protocol Expands in Kenya, South Africa Takes Enforcement Action, Ghana Central Bank Addresses VASP Registration appeared first on 99Bitcoins.