Tag Archives: South Africa

The central banks of Australia, Singapore, Malaysia, and South Africa will reportedly launch a trial program to test cross-border payments employing different CBDCs. Their mission: to determine whether the move would enable more accessible transactions. The Multinational Partnership Central bank digital currencies appear to be an attractive financial instrument for numerous countries across the globe since many are exploring them as a financial instrument. While governments...

The US mortgage lender – United Wholesale Mortgage – intends to accept cryptocurrencies as a payment method by the end of 2021. While the company would first adopt Bitcoin, it would explore other digital assets such as Ethereum shortly after. Additionally, the South African property investment firm – Quorum Holdings – and the Canadian jewelry exchange – SafeGold – also vowed to enable clients to use the primary cryptocurrency as a means of payment. The First American Mortgage...

A South African resident revealed he mined 20 BTC when he was young, meaning that now he is almost a millionaire. Unfortunately for him, he lost his key and password for his Bitcoin wallet. BTC Password – as Important as The BTC Itself Mark Michaels – a 24-year-old electronic engineer from Pretoria, South Africa – was keen on cryptocurrencies as a kid. More than 10 years ago, when he was in 7th grade, he explored the Internet in order to learn how to mine Bitcoin, and...

The cryptocurrency investment company in Cape Town, South Africa – Africrypt – allegedly stole nearly 70,000 bitcoins. The two brothers Ameer and Raees Cajee, who are the founders of the firm, have disappeared. The Biggest Crypto Scam in South Africa Bloomberg reported that the customers of the South African trading venue – Africrypt – became victims of a major bitcoin scam, in which 69,000 coins mysteriously vanished. With today’s prices, this substantial amount is worth...

Blockchain-based renewable energy startup SunExchange has raised $3 million in a recent funding round to expand its services. The funding highlights the increasing demand in South Africa and the region for solar power and alternative investment options.SunExchange Raises $3MThe announcement from Reuters calculated that the South African-based blockchain company had increased the total amount it has raised in Series A funding rounds since 2019 to $4 million. The latest funding for $3 million...

A bank in South Africa is introducing new regulations regarding how people can – and should – hold cryptocurrency.South Africa: The New Crypto Hotspot?The South Africa Reserve Bank (SARB) says that the new rules will become applicable during the early months of 2020 following a consultation period that has lasted nearly five years. The country has been virtually lost regarding how cryptocurrencies should be monitored and governed and has been seeking advice and outside counsel from digital...

The following is proof that work hours should be devoted to work. Andrei Rybkin, a former Russian nuclear scientist, has been sentenced to three years in prison for mining bitcoin utilizing a plant’s computing power.Rybkin: Heading to JailAside from serving time behind bars, Rybkin will have to pay a fee of more than $3,000 (about 200,000 rubles) to court authorities. Sentenced on Thursday, Rybkin is one of three people that were potentially involved in an illegal mining network that...

Hackers have breached the computer network of South Africa’s commercial capital Johannesburg in an attempt to ransom the city for Bitcoin. Consequently, the city has shut down its website and suspended all e-services as a ‘precautionary measure’. At the time of writing the city’s website was still inaccessible. The city of Johannesburg’s official web portal is down. | Source: Joburg.orgPer The Times, the group behind the cyber-attack is an outfit known as Shadow Kill Hackers. The...