Kenya is drafting legislation to regulate cryptocurrencies, shifting from previous warnings by the Central Bank. The proposed “National Policy on Virtual Assets and Virtual Asset Service Providers” aims to create a stable market while addressing risks like money laundering and consumer protection. Public feedback is open until January 24, and if approved, Kenya could join other African nations with established crypto regulations.
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News from GHA
Generated 0 posts last week Record Rental Prices for Tiny Apartments in Zurich
A new rental record has been set in Zurich, with a 14m² studio apartment on Brandschenkestrasse listed for 2,602 francs, equating to 185 francs per m². This ultra-modern, space-efficient living space targets expats and newcomers, reflecting the city’s ongoing housing shortage and rising demand for compact accommodations.
read moreUS stocks surge in 2024 driven by tech and economic optimism
US stocks are poised for back-to-back gains of over 20%, a feat not seen since the late 1990s, driven by strong tech performance and investor optimism following Trump’s reelection. The S&P 500 is up nearly 60% over two years, while the Nasdaq surged over 31% this year. Despite a December selloff, analysts expect continued growth into 2025, although concerns about overvaluation and geopolitical risks linger.
read moreEffectiveness of Macroprudential Policies in Sub-Saharan Africa During Covid-19
The macroprudential response to the Covid-19 pandemic in sub-Saharan Africa demonstrated effectiveness, particularly through the relaxation of requirements that positively impacted bank lending. Key lessons include the importance of timely adjustments to policies, the synergistic effect of combining macroprudential with monetary measures, and the limitations faced by authorities in their toolkit.
read moreGlobal Comparison of Government Salaries and Per Capita Income
Viola Amherd, the President of the Swiss Confederation, ranks second globally in government salaries with 515,000 Swiss francs, behind Singapore’s Lawrence Wong. Notably, she also places seventh in pay relative to GDP per capita, highlighting Switzerland’s competitive compensation for its leaders compared to other nations. In contrast, U.S. President Joe Biden, earning $400,000, falls to ninth in per capita earnings, illustrating a significant disparity in wealth accumulation post-presidency among American leaders.
read moreStand with Crypto PAC Endorses John Deaton Against Elizabeth Warren in Senate Race
John Deaton has received the endorsement of the Stand with Crypto PAC in his challenge against Senator Elizabeth Warren, highlighting a significant divide in crypto policy approaches. While Deaton advocates for the crypto industry and criticizes regulatory overreach, Warren emphasizes national security concerns and proposes stricter regulations. The Massachusetts Senate race is emerging as a key battleground for differing views on digital asset regulation.
read moreCelo Surpasses Tron in Stablecoin Adoption Amid Rapid Growth in Africa
Celo has surpassed Tron in daily active addresses for stablecoin usage, driven by the popularity of applications like MiniPay and Valora across Africa. In July, Celo recorded over one million daily transactions and reached 716,000 active users, with stablecoin supply increasing from under $50 million to nearly $350 million this year. Vitalik Buterin praised Celo’s growth and its transition to an Ethereum Layer 2 solution, which is expected to enhance scalability and interoperability.
read moreVitalik Buterin Praises Celo’s Growth Ahead of Ethereum Layer 2 Transition
Vitalik Buterin has expressed enthusiasm for Celo as it prepares for its transition to an Ethereum Layer 2, following a significant milestone where Celo surpassed Tron in daily active addresses for stablecoin use. This achievement is attributed to the rising popularity of Celo-based payment applications, particularly in Africa. Celo’s native token, CELO, has seen a surge of over 25% following Buterin’s endorsement, highlighting the network’s potential in enhancing global access to basic financial services.
read moreVitalik Buterin Praises Celo for Leading in Stablecoin Addresses Over Tron
Vitalik Buterin praised Celo for surpassing Tron in daily active addresses for stablecoin transactions, highlighting its role in improving global access to finance. Following his endorsement, the CELO token price surged by 22%. Celo is set to transition from a standalone Ethereum-compatible layer 1 blockchain to an Ethereum layer 2 solution, enhancing its network capabilities.
read moreCelo Token Surges After Vitalik Buterin Endorses Project’s Growth and Innovation
CELO surged 25% to $0.68 following praise from Ethereum co-founder Vitalik Buterin for Celo’s growth in stablecoin usage, particularly in Africa. The platform’s transition to Ethereum layer 2 on September 26 aims to enhance integration and drive further adoption of decentralized finance solutions. Major stablecoins like USDC and USDT have recently expanded their presence on Celo, contributing to its rising popularity.
read moreTrump’s Crypto Ventures and Legislative Challenges in the Lame Duck Session
Amidst a potential lame-duck session, Rep. Patrick McHenry sees a chance for crypto legislation, including the FIT21 bill, to be attached to a spending bill. Meanwhile, Trump’s involvement in crypto, particularly with his WLF token, raises concerns about conflicts of interest and the Emoluments Clause, as Democrats may resist supporting crypto bills that could benefit the Trump family financially. Senate Majority Leader Chuck Schumer acknowledges the future of crypto but has not prioritized it in his legislative agenda.
read moreSEC Takes Action Against Fake Crypto Exchanges in Pig Butchering Scams
The SEC has initiated its first enforcement actions against alleged “pig butchering” scams, suing two fake crypto exchanges, CoinW6 and NanoBit, for defrauding investors of nearly $3.2 million. CoinW6 reportedly lured victims through social media, posing as attractive professionals, while NanoBit misled investors with claims of SEC registration and fake offerings. Both entities face charges for violating securities laws, with the SEC seeking penalties and injunctions.
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