Africa Crypto Week Update Recap: Binance Supports Accra Blockchain Summit, Sygnia Endorses BTC As South Africa Aims for Crypto Income Tax
Binance, the leading crypto asset exchange globally, is enhancing its visibility across Africa by participating as a platinum sponsor in the African Blockchain Summit. This sponsorship is anticipated to broaden the exchange’s influence as an increasing number of individuals explore the platform. This marks not the first occasion of Binance supporting a crypto-related event, having previously sponsored a crypto conference in Kenya.
In a related development, South African asset manager Syngnia Limited has advocated for diversification in Bitcoin investments. BTC is recognized as a top digital currency and undoubtedly ranks among the best cryptos to acquire. Several public companies, particularly in regions like Europe, North America, and Japan, have acquired Bitcoin, incorporating the cryptocurrency into their financial statements.
In South Africa, the nation’s revenue authority has cautioned cryptocurrency traders about the repercussions of not reporting crypto income. The country has made significant progress in crypto asset crypto law and stands as one of the continent’s leading adopters, showcasing clear supportive laws for the sector.
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Let us delve into the significant stories making headlines across the continent this week:
Ghana Crypto Update: Binance Supports Africa Fintech Summit Accra
The international exchange behemoth Binance will serve as a platinum sponsor at the Africa Fintech Summit 2025, scheduled to take place in Accra from October 8 to 10, 2025.
The Africa Fintech Summit (AFTS) has revealed that Binance, the world’s premier crypto asset exchange with over 280 million users across 180 nations, will act as a Platinum Sponsor for its 14th edition. The event is set for October 8–10, 2025, in Accra…
— SokoAnalyst (@SokoAnalyst) September 25, 2025
Binance has bolstered its visibility at continental conferences, engaged with regulators, and more. Larry Cooke of Binance Africa commented on the sponsorship:
“Africa is a land rich in opportunities, and we are dedicated to fostering its development through innovation, education, and regulatory partnership. From widening trading networks to interacting with policymakers on frameworks like Kenya’s VASP Bill, and our recent engagement in Ghana with essential policy influencers, Binance is focused on empowering African businesses and users to transact securely, efficiently, and transparently.”
The Africa Fintech Summit endeavors to unite fintech and digital currency leaders on the continent. The summit will showcase speakers, forums, and workshops aimed at advancing crypto entrepreneurship within the region.
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South Africa Crypto Update: Sygnia Advocates Caution in Bitcoin Investment
Syngnia Limited has advised investors in its Bitcoin ETF to refrain from committing their entire portfolios to BTC investments. This guidance arrives despite the ongoing record-breaking surge in Bitcoin’s value, which has remained significantly above $100,000 for months.
This advisory is a reaction to Bitcoin’s persistent fluctuations. However, many BTC advocates might argue the opposite, considering the substantial gains observed over the past two years.
Nonetheless, promoting diversification remains prudent, particularly for those utilizing retirement savings and for vulnerable groups unable to afford significant losses.
Magda Wierzycka, CEO of Sygnia, is skeptical about the Bitcoin craze
. She recommends that crypto asset should constitute no more than 5% of one’s discretionary assets. Even though her company has launched a Bitcoin ETF, she maintains that Bitcoin is overpriced and highly volatile.
— Seven Crypto
Sygnia positions itself as a conservative investment firm regarding cryptocurrencies. Nonetheless, the fact that their ETFs now offer Bitcoin exposure reflects the recognition of Bitcoin’s inevitability in financial markets.
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South Africa Crypto Update: SARS Targets Cryptocurrency Taxes
The South African Revenue Service (SARS) is reported to be pursuing crypto asset holders who have not declared their crypto earnings. This approach comes amidst ongoing court challenges regarding the status of cryptocurrencies within the South African financial system.
SARS possesses extensive authority, extending from audits to criminal prosecution against individuals suspected of tax avoidance. Such measures may soon be applied to crypto holders who neglect to report and pay taxes on their profits.
Globally, governments are incentivized to pursue taxes on cryptocurrencies due to the increasing revenue potential of the sector. The blockchain functions outside conventional banking systems, which makes it difficult to track all assets and profits owned by individuals.
Nevertheless, crypto asset owners, particularly those holding substantial amounts of top Solana meme coins, need to consider regulations in this direction as the industry continues to expand.
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Africa crypto news: Binance Sponsors Ghana Event, South Africa On Taxes
- Ghana crypto update: Binance to support the Africa Fintech Summit in Accra
- South Africa crypto update: SARS is targeting crypto asset holders who fail to report their earnings
The post Africa Crypto Week Announcement In Review: Binance Sponsors Accra Distributed ledger Summit, Sygnia Advocates BTC As South Africa Pursues Crypto Income Tax appeared first on 99Bitcoins.
