In the latest Africa crypto news, the Kenya new virtual assets bill is before Parliament as the country seeks to regulate crypto. Meanwhile, Nigeria postponed the Binance tax lawsuit until the end of April. The government wants the exchange to pay $2 billion in tax it claims was not paid. Meanwhile, the Bitcoin Africa Conference is set for Cameroon.
The African regulatory landscape is rapidly aligning with international trends in crypto regulation. In Kenya, the Parliament is considering a virtual assets bill just weeks after Nigeria passed new securities legislation that accommodates crypto. Meanwhile, authorities continue their feud with Binance in Nigeria, with courts now involved in the tussle. At the same time, the Bitcoin Africa Conference is set to take place in Cameroon in April.
Let’s explore the stories that made the African crypto news headlines this week.
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Kenya Crypto News: Virtual Assets Bill Before Parliament
The Kenyan Treasury has submitted a bill to Parliament that seeks to regulate virtual asset service providers.
Over the past few months, the regulator has been conducting stakeholder consultations before forwarding the bill to Parliament for debate.
The bill highlights include requiring the Capital Markets Authority (CMA) and the Central Bank to regulate service providers and exchanges. The two primary regulators must also enforce international regulations related to illicit money flows and customer identity.
Today I reviewed Kenya’s recently published Virtual Assets Services Providers Bill 2025, AN ACT of Parliament to provide a legislative framework to regulate virtual asset services in Kenya.
All things considered, it looks ok to me. pic.twitter.com/si8T6xv3m4
— Kioneki (@pesa_africa) January 19, 2025
Kenya has maintained a free approach to crypto regulation for over a decade. However, growing crypto usage and international trends have prompted regulators to pursue this legislation.
Crypto enthusiasts in the country hope for a participatory process that accommodates all aspects of this industry.
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Nigeria Crypto News: Binance Case Postponed to End of Month
The legal troubles of Binance in Nigeria received a reprieve when a court adjourned a tax evasion suit to late April. For the past year, the mega-exchange has faced authorities in various capacities over its operations in Nigeria. Through the exchange, citizens could buy some of the best Solana meme coins, earning mega ROI during the last bull run.
BREAKING: Nigeria has filed a lawsuit against Binance, claiming $79.5 billion in economic losses and $2 billion in unpaid taxes over the past two years. pic.twitter.com/aluZjOgbaG
— Token Metrics (@tokenmetricsinc) February 19, 2025
The government has filed a claim against Binance for $2 billion in back taxes allegedly owed by the exchange. Binance views this claim as punitive and has filed a court motion to contest it.
For one, Binance argues that it is incorporated in the Cayman Islands and does not have a presence in Nigeria to create the tax liability claimed by authorities.
Even as the case outcome remains pending, crypto stakeholders are considering the broader implications for the entire crypto sector.
Nigeria has had a love-hate relationship with the industry. It recently enacted securities laws seeking to create more structure for the sector.
The outcome of this battle and subsequent regulatory positions will indicate the direction the government chooses moving forward.
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Cameroon Crypto News: Bitcoin Africa Conference Goes to Douala
The Bitcoin Africa Conference will take place in Douala, Cameroon, between April 25 and 27.
(Source)
This event will focus on financial inclusion and innovation, aiming to bring together crypto entrepreneurs from across the region and the rest of the continent.
Previous editions of the conference were held in countries like Kenya and Senegal.
This conference provides another opportunity for innovators, entrepreneurs, and thought leaders to gather and explore ways to grow this industry on the African continent.
Organizers hope to inspire and educate the next generation of crypto innovators. In return, some may explore and even invest in some of the best cryptos to buy in 2025.
Africa Crypto News: Kenya Crypto Bill, Nigeria Binance Lawsuit Delay, and Bitcoin Africa Conference in Cameroon
- Kenya seeks to regulate crypto. The virtual asset bill is before Parliament
- A court in Nigeria postponed the case against Binance to the end of April. The government wants the exchange to pay $2 billion in tax
- Bitcoin Africa Conference 2025 is set for Douala, Cameroon. The goal is to promote crypto and its innovation
The post Africa Crypto Week in Review: Crypto Bill in Kenya, Nigeria Puts Off Binance Suit as Cameroon Hosts Bitcoin Africa Conference appeared first on 99Bitcoins.
