BitKE got to an exclusive chat with the Binance Leads for Africa Hannes and Nadeem to talk about the recent developments in Africa for Binance particularly on regulation in South Africa.
Speaking to BitKE on the recent regulatory developments in South Africa, Hannes, the General Manager of Southern Africa for Binance, said:
South Africas Financial Sector Conduct Authority (FSCA) is set to issue licenses to crypto asset service providers (CASPs) in the next few weeks.
We are excited about this development and commend the work of the Financial Sector Conduct Authority (FSCA) for its commitment to innovation-driven policies. This is a positive step for both the cryptocurrency industry and South Africans. This move will contribute to clarity, user protection, and much-needed confidence in the ecosystem.
Binance acknowledges the value of operating in a stable regulatory landscape and has dedicated considerable time to applying for licenses, registrations, and authorisations across the globe.
We remain committed to working with regulators and policymakers to shape policies that protect consumers, encourage innovation, and propel our industry forward.
Here is the exclusive BitKE Q&A discussion with the Binance Leads for Africa:
Q: Please introduce yourself and tell us what you do at Binance ( Hannes & Nadeem)
Hannes: My name is Hannes Wessels,the General Manager of Southern Africa for Binance, the worlds foremost blockchain ecosystem and cryptocurrency infrastructure provider, currently spearheading business operations in these regions.
Nadeem: My name is Nadeem Anjarwalla, the Lead Director of Operations in Africa (excluding South Africa) for Binance. In this role, I focus on scaling the business, adoption, and freedom of money.
Q: In light of the recent developments in the crypto landscape in South Africa, what positive developments do you see from the recent FSCA announcement on crypto licensing? (Hannes)
Hannes: As Binance Africa, we are excited about the development and commend the work of the Financial Sector Conduct Authority (FSCA) for its commitment to innovation-driven policies. This is a positive step for both the cryptocurrency industry and South Africans. This move will contribute to clarity, user protection, and much-needed confidence in the ecosystem.
Binance acknowledges the value of operating in a stable regulatory landscape and has dedicated considerable time to applying for licenses, registrations, and authorisations across the globe.
We remain committed to working with regulators and policymakers to shape policies that protect consumers, encourage innovation, and propel our industry forward.
Q: Did you apply for the licence? If so, how was the experience? South Africa has experienced numerous crypto scams. Do you see the licensing contributing to the much-needed confidence in the ecosystem? (Hannes)
Hannes: Yes, we applied for the license and its been a positive experience. This is a beneficial move for South Africans and the cryptocurrency sector. Binance is committed to regulatory compliance worldwide, focusing on user safety and ecosystem confidence. We collaborate with legislators and regulators to safeguard consumers, promote innovation, and advance the industry. Binance assists users in learning crypto best practices, emphasizing vigilance against scams. While we provide warnings and education, users must stay informed to prevent personal losses. Knowledge and education are crucial defences against fraud and scams.
Q: Apart from South Africa, where else on the continent are you seeking licensing? (Hannes & Nadeem)
Hannes & Nadeem: Binance is a pro-regulation organisation, committed to engaging with the government and relevant stakeholders. Around the world, we are in the process of obtaining crypto-specific licences, and Binance has bolstered its global compliance in 18 jurisdictions, such as Spain, Italy, France, New Zealand, Dubai, Bahrain, Abu Dhabi, and many other jurisdictions more than any other exchange. Our strong compliance practices enable us to meet the requirements of regulated entities around the world, allowing us to enter into key partnerships that serve our users and encourage the adoption of cryptocurrency and blockchain technology.
Q: In light of the recent regulatory discussions in Kenya, how are you approaching regulation in East Africa, particularly Kenya? (Nadeem)
Nadeem: Binance endorses Kenyas parliamentary committees recommendation to create a comprehensive oversight framework and policies for virtual assets and virtual asset service providers in Kenya. Binance supports these developments, believing in its responsibility to collaborate with regulators to create a safer crypto environment. Binance is a pro-regulation organisation that will continue to work with the government and other stakeholders.
Q: What is the regulatory framework in Southern and Francophone Africa? Which countries in Francophone Africa are you particularly excited about, and why? Which Francophone countries do you see the most adoption of Binance? (Hannes South Africa & Nadeem Francophone Africa)
Hannes & Nadeem: Africas crypto industry has flourished, with several nations, such as the Southern and Francophone markets, embracing cryptocurrencies. Binance has played a significant role by simplifying and securing cryptocurrency trading for African users.
We are particularly excited about the opportunities in countries like Senegal and Ivory Coast. These nations have shown a growing interest in cryptocurrency, and weve been working to enhance our services to cater to the needs of users in these regions.
In terms of adoption, weve observed positive trends in Senegal, where our user base has been steadily increasing. Additionally, Ivory Coast has shown promising signs of Binance gaining popularity as a preferred platform for cryptocurrency enthusiasts.
Its essential to note that our success in each country is influenced by various factors, including regulatory developments, market dynamics, and user behaviours. We remain committed to fostering growth in Francophone Africa and providing users with a seamless and secure crypto trading experience.
We now support multiple African currencies, enabling seamless P2P trading with zero fees. This expansion strengthens Binances presence on the continent, catering to the growing interest and adoption of cryptocurrencies in Africa.
Q: You undertook some law enforcement training in Nigeria, Kenya, and South Africa for the first time in 2023. How was the reception? Are you looking at doing more of such training in 2024 in other African countries? (Hannes & Nadeem)
Hannes & Nadeem: The response from law enforcement was positive, and we were able to focus on protecting users, which is our top priority. We firmly believe that close collaboration between industry players and law enforcement agencies is essential for preventing and addressing cybercrime, including combating fraud. We are delighted to interact with and support law enforcement agencies to jointly safeguard user assets.
In addition to participating in public consultation, Binances commitment to protecting users is also instrumental in helping build a safer virtual asset ecosystem across Africa.
Follow us onTwitterfor the latest posts and updates
Join and interact with ourTelegram community
_________________________________________
_________________________________________
Read the original post:
- Binance Research Reviews February Crypto Trends: Arbitrum, Blur ... - BSC NEWS [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Ethereum's Liquity (LQTY) up 40% as Binance's Multimillion Holdings Unveiled - U.Today [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Crypto Wallets Tied to FTX Abruptly Move Over $102,000,000 To Binance, Coinbase and Kraken - The Daily Hodl [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Binance Coin, Polygon and Big Eyes Coin - Three Long-Term ... - NewsWatch [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Learn CryptoTax 101 with Binance Australia - Business News Australia [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Binance vs. Coinbase: Which crypto exchange is right for you? - Yahoo Finance [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Binance Will Convert $1B Worth of BUSD Stablecoin to Bitcoin, Ether, BNB and Other Tokens - CoinDesk [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Binance Halts GBP Deposits and Withdrawals - Crypto Briefing [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Binance-Voyager deal to proceed without holdings, NY judge rules - Cointelegraph [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Bitcoin price flash spikes to $50K on Binance after USD Coin peg snaps - Cointelegraph [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Binance CEO announces recovery funds conversion from BUSD to native crypto - Cointelegraph [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Helium's HNT Crypto Token Slides to 2-Month Low After Binance.US Delisting Announcement - CoinDesk [Last Updated On: March 16th, 2023] [Originally Added On: March 16th, 2023]
- Binance Announces to Back ETH 2.0 Staking Withdrawals after the ... - Blockchain Reporter [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Binance Unveils Game-Changing Product Updates Across Its ... - Blockchain Reporter [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Bitcoin Surges as Bank Client Rescue Eases Contagion Fears, Fuels Hopes for Fed Dovishness; Binance's $1B Conversion Helps, Too - CoinDesk [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- SEC v. Ripple: John Deaton says Hinman documents will be made public and support defense for Coinbase, Binance - FXStreet [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Traders Union Experts Published Their Binance Coin Price Prediction For 2030 - mid-day.com [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Space ID to Launch ID Token on Binance Launchpad - BSC NEWS [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Whale moves $33 million worth of Ethereum to Binance in one go: What this means for ETH - FXStreet [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- More People Are Downloading Crypto Apps Like Coinbase, Binance, Heres Why - NewsBTC [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Binance removes BUSD from its $1 billion SAFU Fund, swaps it with USDT and TUSD - FXStreet [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Binance CEO CZ Ridicules Troubled US Financial Institutions By ... - Investing.com [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Binance removes BUSD from SAFU fund adds TUSD, USDT - CryptoSlate [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Binance Touts Compliance While Avoiding Financial Disclosures - BeInCrypto [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Binance replaces BUSD in SAFU fund with TUSD and USDT - Cointelegraph [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Arbitrum (ARB) Token Listed on Binance Exchange Ahead of Massive Airdrop: Details - U.Today [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Binance battles 'FTX redux' fears as regulators blow-torch the crypto giant - Markets Insider [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Binance: Rebuilding Trust in Crypto - CryptoPotato [Last Updated On: March 20th, 2023] [Originally Added On: March 20th, 2023]
- Analyzing exchange stablecoin holdings: Will Tether (USDT) lose relevance as Binance favors True USD (TUSD)? - FXStreet [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Litecoin (LTC) And Binance (BNB) Reel As Bulls Find Collateral ... - NewsWatch [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Coinbase Stock Has Held Up Amid the Regulatory Crackdown on Crypto, Binance - Barron's [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Ripple (XRP) Explodes 20% Unfazed by Binance-CFTC Lawsuit, Bitcoin Consolidates: This Weeks Crypto R... - CryptoPotato [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Binance: Could CFTC Lead To Bigger Problems? (Cryptocurrency ... - Seeking Alpha [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Binance burns 1.6 billion LUNC, heres how the token reacted - AMBCrypto News [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Binance and Miami Heats Jimmy Butler Hit With $1B Crypto Lawsuit - Decrypt [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Binance Faces Backlash Over BUSD Operations Amid Scrutiny - BeInCrypto [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- This Week in Coins: Bitcoin and Ethereum Survive CFTCs Binance Crackdown - Decrypt [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Binance Exchange and CEO Face Yet Another Legal Battle - BeInCrypto [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- From Hamas warnings to VIP perks and criminal clients: the US regulators claims against Binance - The Guardian [Last Updated On: April 4th, 2023] [Originally Added On: April 4th, 2023]
- Binance Collaborates With Showmax To Incentivize Crypto Adoption ... - Peace FM Online [Last Updated On: April 5th, 2023] [Originally Added On: April 5th, 2023]
- Japan targets Binance, 4 other crypto exchanges as Bittrex bows out ... - Kitco NEWS [Last Updated On: April 5th, 2023] [Originally Added On: April 5th, 2023]
- Cardano: Crypto Community on Twitter Tells Binance.US That ... - CryptoGlobe [Last Updated On: April 5th, 2023] [Originally Added On: April 5th, 2023]
- Price Predictions For Helium (HNT) and Binance (BNB) Is Reasonable, While Collateral Network (COLT) 3500% - Bitcoinist [Last Updated On: April 5th, 2023] [Originally Added On: April 5th, 2023]
- Half Billion Dogecoin Moved by Binance in Wake of Positive DOGE News - U.Today [Last Updated On: April 5th, 2023] [Originally Added On: April 5th, 2023]
- Binance to Temporarily Suspend Ethereum (ETH) Deposits on This Date - U.Today [Last Updated On: April 5th, 2023] [Originally Added On: April 5th, 2023]
- Binance and Coinbases Market Share Slumped in Q1 As Regulators Targeted Crypto Giants: New Report - The Daily Hodl [Last Updated On: April 5th, 2023] [Originally Added On: April 5th, 2023]
- Dubai regulator demands Binance provide info on ownership, governance: Report - Cointelegraph [Last Updated On: April 5th, 2023] [Originally Added On: April 5th, 2023]
- Orbeon Protocol (ORBN) Rises To The Top While Helium (HNT) and ... - Cryptopolitan [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- CZ says current blockchain throughput cannot make Binance a hybrid exchange - CryptoSlate [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- Terra Classic Could Receive $5M in Funding From Binance - The Crypto Basic [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- Binance Coin (BNB) and Cardano (ADA) Lose Steam As TMS Network (TMSN) Jumps 10x in Presale | Bitcoinist.com - Bitcoinist [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- Binance, Showmax partner to deepen crypto adoption in Africa - Businessday [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- Binance Coin price analysis: BNB price recovers to $311 after ... - Cryptopolitan [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- Dog Days are Over: Bitcoin Holds Ground Amid Binance Lawsuit ... - Analytics Insight [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- Debunking Crypto Myths With Binance! The Myth of Crypto Being ... - Bitcoin News [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- BTC white paper hidden on macOS, Binance loses AUS license and ... - Investing.com [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- CFTC Charges Binance and its Founder with Multiple CEA Violations - JD Supra [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- Report: Binance US Struggles to Secure Banking Partner Amid ... - Bitcoin News [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- Shiba Inu: Binance.US Poll on SHIB Creator Sparks Interesting Community Response - U.Today [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- What Binance's US lawsuit says about the future for cryptocurrency regulation - The Conversation [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- Binance and Coinbase Have Been Sucked Into a Regulatory Turf War - WIRED [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- Binance's US arm struggles to find bank to take its customers' cash, Wall Street Journal reports - Reuters [Last Updated On: April 9th, 2023] [Originally Added On: April 9th, 2023]
- DigiToads Leaves Binance Coin and Polkadot Behind with Its ... - The Coin Republic [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- MetaMask denies hack claims, sparking security concerns amongst ... - Euro Weekly News [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- Cryptocurrencies Price Prediction: Shiba Inu, Bitcoin & Binance Coin Asian Wrap 03 May - FXStreet [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- After Binance And Coinbase This Exchange is penalized by the New York Regulators - Coinpedia Fintech News [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- Binance Total LUNC Burns Surpass 31B as Exchange Burns 1.2B+ ... - The Crypto Basic [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- SUI Network and Token to Be Listed on Binance, OKX, and Bybit ... - Blockchain Reporter [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- Comparing Bitgert and Binance Coin: Similar Teams, Different Price ... - Analytics Insight [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- Binance Says ChatGPT Is Attacking Platform and CZ Personally in Its Answers - U.Today [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- Digital Gold Rush: Binance Coin And Dogetti's Race To Dominate ... - Analytics Insight [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- Binance To Retire Deposit Addresses On Ethereum; Here's Why ... - Analytics Insight [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- Binance urges balanced regulatory approach for crypto to ensure innovation, growth are not stifled - CryptoSlate [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- Binance Adds SHIB And DOGE To Its Liquidity Pools; Signuptoken ... - Analytics Insight [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- Top 10 Binance Trading Bots You Must Know About in 2023 - Analytics Insight [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- AX1 Releases Research on Binance Key Project - Trust Wallet Press release Bitcoin News - Bitcoin News [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- Binance Continues Its Expansion: Now In Japan on June 2023 - Blockzeit [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- Binance claims to be target of ChatGPT-based smear campaign in Washington, D.C. - Fortune [Last Updated On: May 3rd, 2023] [Originally Added On: May 3rd, 2023]
- Jane Street and Jump Crypto Crushed by Regulatory Crackdown, Binance and Coinbase Brace for Impact - Coinpedia Fintech News [Last Updated On: May 10th, 2023] [Originally Added On: May 10th, 2023]
- Crypto Market Analysis: Heres What Next For Ethereum (ETH) & Binance (BNB) Price - Coinpedia Fintech News [Last Updated On: May 10th, 2023] [Originally Added On: May 10th, 2023]