Mambo 👋
Stablecoins kept moving this week, but so did regulators.
Nigeria introduced a new framework to coordinate virtual asset regulation. South Africa published a draft crypto tax guidance. Busha partnered with Tether to expand licensed stablecoin infrastructure.
One thing is becoming clearer: as stablecoins become part of the financial system, regulation is becoming part of the infrastructure too.
The story
Nigeria’s President signed an executive order creating a single framework for regulating virtual assets, bringing the Central Bank and other key agencies under one coordinating council.
We are observing that African regulators are increasingly choosing to organize, supervise, and regulate digital assets rather than simply ban them.
Deals
No stablecoin deal this week but here are the 3 Business Models winning VC Cash in Africa’s Stablecoin boom.
Launches
Busha partnered with Tether to bring regulated stablecoin infrastructure to African businesses.
Built on Busha’s SEC licensed platform, the partnership expands access to faster cross border payments, treasury management, and global settlements.
This is another sign that stablecoins are increasingly being delivered through regulated, licensed financial institutions rather than standalone crypto products.
Regulation
The South African Revenue Service (SARS) released its long-awaited Draft Guide to the Taxation of Crypto Assets offering what may be its clearest explanation yet of how existing tax laws apply to cryptocurrency transactions.
Madini
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From inside
Africa’s regulators are paying closer attention to the dollar.
A month after the Bank of Tanzania digitized its interbank foreign exchange market, Central Bank Of Nigeria is now rolling out a system that tracks every Bureau de Change dollar purchase from the moment it is bought until it is sold.
It comes at a time when stablecoin powered digital dollars are gaining momentum across the continent. The more dollars move digitally, the more regulators want visibility into where they come from and where they end up.
On the record
Written from inside Africa with love 🇹🇿💚
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