Pi Network Community Expands Amid Mainnet Launch Speculation and Delays

Pi Network continues to grow its user base, with over nine million completing KYC verifications, despite ongoing concerns about scams. While the mainnet launch has faced delays, projections suggest it will go live by the end of March 2025, prompting mixed reactions from the community. Recent events in India and Nigeria highlight the project’s expanding popularity in these regions.

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Botswana Central Bank Advocates for Crypto Regulation Amid Emerging Risks

Botswana’s central bank has called for the regulation of crypto markets, noting their current minimal risks to financial stability but warning of potential systemic risks as they become more integrated with the financial system. The bank highlighted concerns over misconduct and the security risks posed by digital payment instruments, particularly regarding money laundering and terrorist financing, urging the development of oversight mechanisms and enhanced market surveillance.

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Botswana Central Bank Calls for Crypto Regulation Amid Minimal Financial Risks

Botswana’s central bank has identified minimal risks from local crypto markets to financial stability, attributing this to their underdevelopment. However, it emphasizes the need for regulatory frameworks to address potential future risks, particularly concerning money laundering and terrorist financing linked to digital payment instruments. The bank calls for compliance with anti-money laundering regulations and enhanced market surveillance to mitigate these security threats.

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Nigeria to Introduce Licensing for Cryptocurrency Exchanges and Regulation

Nigeria’s Securities and Exchange Commission (SEC) is set to introduce its first licenses for cryptocurrency exchanges, reflecting a global trend towards regulatory oversight in the crypto market. This initiative aims to support fintech growth and stabilize the market following past challenges, including a ban on banks facilitating crypto transactions. Additionally, a new bill outlining tax regulations for cryptocurrency is expected by September, as legal actions against crypto exchange Binance continue.

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