Nigerian Crypto Exchange, Roqqu Secures License to Operate in South Africa

Nigerian native crypto exchange, Roqqu has announced that it has received the green light to kick-start operations in South Africa. This means the crypto exchange has been granted regulatory approval to allow South African users to purchase cryptocurrencies and withdraw funds with the country’s fiat currency.

Away from that, some crazy shitcoin pumps occurred in the web3 space this week. Early buyers of $AIDOGE and Pepecoin are now overnight millionaires in dollars, while Arbitrum folks continue to receive airdrop pensions.

Here are major crypto stories from around the world this week:

European Parliament approves crypto legislation

The European Parliament has approved its Markets in Crypto-Asset law (MiCA). This will allow the European Union to regulate the crypto industry.

The parliament conducted the final vote on Thursday after two consecutive delays. MiCA’s rapporteur and member of the European Parliament, Stefan Verger, immediately after voting on Thursday, called MiCA “A milestone for the crypto asset industry.”

With MiCA, European policymakers aim to set standard regulations and establish harmonised rules for cryptocurrencies at the European Union jurisdiction, providing legal certainty for the crypto industry and investors. The legislation, introduced for the first time back in 2020, needs approval from the European Council before becoming effective regulation.

Trump NFT sold out on the first day

The second collection of NFT licensing the name and image of Donald Trump, the former United States President, was sold out on Wednesday, a day after its initial launch.

The Trump NFTs use the embattled former president’s “name, likeness, and image” under a paid license and are not owned, managed or controlled by either Donald J. Trump or The Trump Organization.

The collection featured 47,000 Trump digital collectibles priced at $99 each, netting over $4.65 million, and persons are promised one ticket to attend the Gala Dinner with Trump in South Florida if they purchase 47 Digital Trading Cards or buy 100 cards with crypto.

Roqqu secures South African license

Roqqu has been approved to operate in South Africa, the Nigerian native crypto exchange announced on Twitter on Thursday.

This new license will allow South African users to buy digital currencies with the South African rand, which is the country’s legal tender and withdraw funds.

Information gathered says South Africa has always been a top priority for Roqqu in a bid to expand its dominance in the African crypto market.

Read also:

Paxful vs Roqqu; a comparison of 2 African crypto exchanges

According to an interview with CoinTelegraph, Roqqu highlighted South Africa as a focal point for its growth plans, which include reaching 5 million clients in 2023. Also, Roqqu has plans for Kenya, Tanzania, Ghana, and Uganda for expansion in the near future.

Coinbase CEO hits at regulators

Coinbase CEO Brian Armstrong tweeted late on Thursday that he spent a whole day in Washington DC discussing crypto regulation with Congress members.

He highlighted the need for regulatory clarity in the United States. According to him:

“The SEC has caused untold harm to America with its policy of regulation by enforcement. We will fight to fix that.”

Recall that in March, Coinbase received a Wells Notice from regulators indicating they were contemplating taking enforcement action against the exchange for potentially breaching United States securities laws.

Following that, in an interview with CNBC, Armstrong expressed his disappointment over the situation, emphasizing that the arrival of the Wells Notice without any prior indication of an issue was unfortunate.

Do Kwon indicted for document forgery

Following his arrest in March, prosecutors in Montenegro have reportedly indicted Terra co-founder and former CEO Do Kwon. He was indicted for allegedly forging legal documents, according to a report by the Korean news agency Block Media on Thursday.

Recall that Do Kwon was arrested on March 23 while trying to board a private plane at an airport in Podgorica, the capital of Montenegro. He allegedly used fake documents while attempting to board the flight to Dubai. Also, according to the report, Han Chang-jun, Terraform’s former chief financial officer, is facing similar charges. He was arrested with Do Kwon in Podgorica in March.

Additionally, on Thursday, the Turkish police finally detained Faruk Fatih Ozer, founder and former CEO of Thodex, who allegedly fled Turkey with $2 billion stolen from the exchange in 2021.