{"id":9647,"date":"2025-01-25T12:47:22","date_gmt":"2025-01-25T12:47:22","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=9647"},"modified":"2025-01-25T12:47:22","modified_gmt":"2025-01-25T12:47:22","slug":"africa-crypto-week-in-review-south-africa-reserve-bank-governor-blasts-bitcoin-as-kenya-intends-to-regulate-digital-assets","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=9647","title":{"rendered":"Africa Crypto Week In Review: South Africa Reserve Bank Governor Blasts Bitcoin As Kenya Intends To Regulate Digital Assets"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">In 2025, Africa has shown that it will continue to navigate the complex crypto landscape. From the sequence of events over the past years, it is clear that the continent is not just a bystander but an active player, helping shape the crypto narrative. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">From South Africa\u2019s top banking boss blasting the idea of making Bitcoin a strategic asset to regulatory requirements in Kenya and new firms setting up mining operations in Ethiopia, Africa is actively positioning itself as a leader.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">South Africa Crypto News: Governor Questions Bitcoin As a Strategic Reserve Asset<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Donald Trump could create a\u00a0<a href=\"https:\/\/99bitcoins.com\/coinbrief\/bitcoin\/us-bitcoin-reserve-will-trigger-global-btc-arms-race-trump-crypto-executive-order-plans-explained\/\" target=\"_blank\" rel=\"noopener\">crypto reserve in the United States<\/a>, including multiple assets like Bitcoin. While this would be a massive endorsement, Lesetja Kganyago, the Governor of the South African Reserve Bank is challenging the notion of promoting BTC and making it a strategic reserve asset. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">While speaking at the World Economic Forum in Davos, the Governor asked, <\/span><em><span data-preserver-spaces=\"true\">\u201cWhy Bitcoin? Why not beef, mutton, or apples?\u201d<\/span><\/em><span data-preserver-spaces=\"true\"> His skepticism stems from the coin\u2019s criticism that it has no intrinsic value, unlike gold, an asset that some consider a better alternative. <\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"WEF Davos 2025 Crypto Panel - South Africa Reserve Bank Governor on Regulatory Capture in Crypto\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/w21AGv9sup0?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><span data-preserver-spaces=\"true\">The governor is cautious, warning the world of the dangers of what he termed as \u201cregulatory capture\u201d where policies might be bent to suit the will of the industry. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Countering this view, Coinbase CEO Brian Armstrong urged governments to accumulate BTC as a strategic asset. <\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today, Bitcoin&#39;s market cap of ~$2T represents about 11% of gold&#39;s market cap of ~$18T.<\/p>\n<p>Bitcoin is a better form of money. It has the decentralization and scarcity of gold, but better divisibility, portability, and (i think) even fungibility. It&#39;s relatively harder to tell if\u2026 <a href=\"https:\/\/t.co\/DJJxj4EA6n\">https:\/\/t.co\/DJJxj4EA6n<\/a> <a href=\"https:\/\/t.co\/51LSKaU49a\">pic.twitter.com\/51LSKaU49a<\/a><\/p>\n<p>&mdash; Brian Armstrong (@brian_armstrong) <a href=\"https:\/\/twitter.com\/brian_armstrong\/status\/1882501777578180613?ref_src=twsrc%5Etfw\">January 23, 2025<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">Highlighting the coin\u2019s features, he said its scarcity and ease of transfer make it an unmatched store of value, outshining the clunky gold currently held as reserves by nations worldwide.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Kenya Crypto News: Firms Must Open Offices Locally<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">In Kenya, there are solid steps to regulate crypto. By Friday, January 25, the Virtual Asset Service Providers bill, was still open for public comments. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Through this bill, it is clear that the government is rolling the red carpet for crypto, bringing clarity to a space that was previously full of uncertainties. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Since crypto trading or holding is not a crime in Kenya, the bill will help structure crypto operations in the country, even guiding businesses willing to set up shop.<\/span><\/p>\n<p><iframe loading=\"lazy\" title=\"Kenya to Implement Crypto Regulations to Combat Illicit Activities\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/yYvngkmceJ8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<p><span data-preserver-spaces=\"true\">The draft bill <\/span><a class=\"general-link\" href=\"https:\/\/nairobiwire.com\/2025\/01\/crypto-firms-must-set-up-local-offices-in-kenya-under-new-government-rules.html\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">requires<\/span><\/a><span data-preserver-spaces=\"true\"> crypto firms willing to operate in the country to open offices locally. They must also appoint local CEOs and executives after clearance from agencies like the Capital Markets Authority (CMA).<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Ethiopia Crypto News: New Firms Launching<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Ethiopia is now among the world leaders in crypto mining. Thanks to the vast renewable energy resources, the East African nation currently hosts miners who moved away from China and Mongolia. Subsequently, it is one of the largest sources of Bitcoin hash rate after the United States. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">This week, the Phoenix Group, a firm from Abu Dhabi, <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.msn.com\/en-ae\/money\/news\/abu-dhabi-listed-phoenix-group-enters-africa-with-ethiopian-bitcoin-mining-deal\/ar-AA1xGmUX\" target=\"_blank\" rel=\"noopener nofollow\"><span data-preserver-spaces=\"true\">partnered<\/span><\/a><span data-preserver-spaces=\"true\"> with Data7 in a deal that will see the farm make use of the 80 MW in Ethiopia to mine Bitcoin. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Even though the size of the deal or the precise location of the farm wasn\u2019t made public, it signaled Phoenix Group\u2019s efforts to expand. The decision to expand, Munaf Ali, the CEO, added, is part of their strategy to strengthen its position as one of the top crypto miners.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWe are aggressively building out our mining capabilities \u2026 we are not just expanding our operations \u2026 we are strategically positioning ourselves at the forefront of a financial revolution where cryptocurrencies will play a central role in creating a more inclusive and dynamic global economy.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Phoenix Group also operates a crypto mining farm in North Dakota.<\/span><\/p>\n<p><strong>EXPLORE:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/will-this-special-program-propel-algorand-to-new-highs\/\" target=\"_blank\" rel=\"noopener\">Will This Special Program Propel Algorand To New Highs?<\/a><br \/>\n<\/strong><\/p>\n<p><a class=\"external\" href=\"https:\/\/discord.gg\/QneEHUjm\" target=\"_blank\" rel=\"noopener nofollow\"><strong>Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/strong><\/a><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/africa-crypto-week-in-review-south-africa-reserve-bank-governor-blasts-bitcoin-as-kenya-intends-to-regulate-digital-assets\/\">Africa Crypto Week In Review: South Africa Reserve Bank Governor Blasts Bitcoin As Kenya Intends To Regulate Digital Assets<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>In 2025, Africa has shown that it will continue to navigate the complex crypto landscape. From the sequence of events over the past years, it is clear that the continent is not just a bystander but an active player, helping shape the crypto narrative. From South Africa\u2019s top banking boss blasting the idea of making [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-9647","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/9647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9647"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/9647\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}