In the ever-changing world of blockchain technology, compliance with regulations is crucial for innovation and growth. This series of events explored the rules and regulations affecting blockchain in Kenya and Nigeria, shedding light on their complexity and what they mean for those involved in the Web3 ecosystem.
In Kenya, the Capital Markets (Amendment) Bill has raised questions, especially concerning cryptocurrency taxation. An event in Nairobi, attended by over 150 professionals and co-sponsored by Binance and Tether, addressed these issues. Paulo Ardoino, CTO of BitFinex Tether, gave a keynote speech emphasizing transparency, compliance, and regulation. The event also examined global cases like El Salvador and CAR, offering insights into progressive decentralized finance initiatives.
In Nigeria, a Compliance and Regulation Panel Discussion attracted 83 attendees and included an introduction to blockchain technology. A panel of experts, including Ogedegbe Uyoyo, Chioma Onyekelu, Kizito Uzor, Adebayo Fabamise, and Chukwuemeka Mbaebie, discussed the importance of legal, ethical, and security standards in blockchain. The event provided a detailed look at Nigeria’s regulatory environment and how it affects daily crypto activities.
The importance of understanding regulations was also highlighted in Kenya during a session hosted by Polygon Labs and Impact Plus. Local thought leaders like Sselina Onyando and Robert Muoka emphasized how Kenyan rules impact startups and NGOs using blockchain technology. The shared belief was that proper regulation is essential for a successful blockchain ecosystem.
Overall, these activities emphasized the connection between compliance, regulations, and technology. By exploring blockchain’s potential within these legal frameworks, stakeholders are guided towards a sustainable and inclusive digital future.
Activity: Web3 Compliance and Regulation in Africa (series)
When: January 27th, July 18th, August 22nd, 2023
Where: Kenya and Nigeria