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Author: Terence Zimwara

Centralization Aids Web3 When Leveraged to Hasten Development of Dapps, Says James Bayly

Contrary to the perception that decentralized applications (dapps) are unstoppable, many are “reliant on centralized middleware components in the extreme.” James Bayly, COO at Subquery, argues that such an overreliance on centralized middleware components or their providers “completely undermines [the] supposedly decentralized applications and networks.” The Value of Centralization in Web3 However…

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Nigeria Proposes Rule Requiring Foreign Crypto Exchanges to Incorporate in the Country

The Nigerian Securities Regulator has proposed a rule requiring virtual asset service providers to be incorporated and maintain an office within Nigeria. The regulator has also suggested a fivefold increase in the registration fee, which must be submitted alongside license applications from prospective crypto exchanges. Proposed Regulations to Foreign Operators Targeting Nigerian Users According to

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South Africa Regulators to Unveil Document Categorizing Stablecoins as a ‘Particular Type of Crypto Asset’

In 2024, the Intergovernmental Fintech Working Group, a consortium of South African regulators that unveiled a position paper on crypto assets in 2021, is expected to “publish additions to include stablecoins as a particular type of crypto asset.” The consortium is also considering the impact of tokenisation on domestic financial markets and is expected to

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Nigerian Users Criticize Binance for Imposing Exchange Rate Caps on USDT to Naira Transactions

Some Nigeria-based users of Binance’s peer-to-peer platform have blasted the crypto exchange’s decision to block or remove traders quoting USDT to naira exchange rates exceeding NGN1,802. Binance says it has the right to remove “users behaving in a malicious or manipulative way.” The Nigerian Currency’s Woes Some Nigerian users of Binance’s peer-to-peer (P2P) platform have

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