The National Bank of Ethiopia has issued a mobile money-service license to M-Pesa, challenging state-owned Telebirr’s dominance. This development supports Ethiopia’s shift towards greater financial digitalization and increased digital payments accessibility for unbanked Ethiopians. Nonetheless, the legal status of crypto assets remains unclear in the country.
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Namibia Embraces Crypto Regulations: A Breakthrough or a Setback?
“Namibia has signed a law regulating Virtual Asset Service Providers, reversing its 2017 ban on crypto exchanges. The law aims to enhance consumer protection, curb market abuse, and mitigate money laundering and terrorism financing risks. However, severe penalties apply for non-compliance and cryptocurrencies still hold no legal tender status in Namibia, potentially creating a hostile environment for crypto businesses.”