Kenya, Nigeria, and South Africa are moving towards regulating the crypto market to enhance oversight and consumer protection. The introduction of the Virtual Assets Service Provider (VASP) bill in Kenya reflects this trend. Meanwhile, in Nigeria, there are calls for stringent regulations to combat financial crimes associated with the lack of oversight in the crypto space. Additionally, a new meme coin called Smog has gained attention for its compliance with regulations and its potential to lead the way in driving economic growth and financial inclusion across Africa.
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