ROUNDUP OF BLOCKCHAIN NEWS IN KENYA AND EAST AFRICA
CMA Admits Yeshara Tokens limited, that deals with tokenizing real estate, to the regulatory sandbox for a one year trial as KRA collects 10 billion in crypto taxes for 2024.
Happy New Year to you! Welcome to Blockwisely, where you get the latest news, insights, updates, and trends from the Web3 ecosystem in Kenya and East Africa at Large.
Here’s everything that happened in the Web3 space last week.
GENERAL NEWS UPDATES
CMA Admits Yeshara Tokens limited, that deals with tokenizing real estate, to the regulatory sandbox for a one year trial:
The Capital Markets Authority (CMA) has granted Yeshara Tokens Limited, a company that deals with tokenizing real estate, a one-year trial period in the regulatory sandbox. The firm will utilize its blockchain-based Yeshara Platform to test the trading of tokenized securities, initially focusing on real estate. This aims to enhance liquidity and improve access to financial markets.
KRA Collects 10 Billion in Crypto Taxes for 2024, driven by a 3% tax on transactions.
The Kenya Revenue Authority (KRA) has collected Sh10 billion in crypto taxes for 2024, driven by a 3% tax on transactions. With over 700,000 users, approximately 20% of Kenya’s GDP (Sh2.1 trillion) was transacted in crypto between 2021 and 2022.
Living on a Bitcoin Standard using the Lightning Network
In an era where digital transactions are becoming prevalent, the use of Azteco bitcoin vouchers emerges as a game changer. These prepaid vouchers can be redeemed for Bitcoin, much like digital gift cards, making the Bitcoin network more accessible. This will increase the adaptation of cryptocurrency in the country.
Ethiopia's Rise as a Bitcoin Mining Haven
A thread of milestones documents Ethiopia's ascent in the realm of Bitcoin mining in 2024. The country is positioning itself as a formidable player on the global Bitcoin mining stage.
Growth of African Crypto Communities
The growth of African crypto communities is remarkable, with Telegram groups focused on cryptocurrency witnessing more than 180% increase since the start of 2023, totaling over 3 million users by August 2024.
EVENTS THAT HAPPENED
61 Students Graduated from Core21 Program
Aptos Africa Year-End Hangout
UPCOMING EVENTS
ETHiopia's Pop Up City Countdown
ETHiopia will host its first ETH Conference from February 15th to 16th, 2025, alongside Hackathon Week from February 10th to 14th.
Closing Applications for Dada Devs Program
Call for Applications: Visa Fintech Accelerator
