Booming Africa crypto adoption sparks regulation concerns

Pedro Gonçalves
clock • 2 min read

The rapid growth of blockchain technology in Africa has raised concerns over a heavy-handed regulatory response that would hinder local innovation. Chainalysis reported booming crypto adoption in Africa as the continent ranked second in P2P trading. Two African countries also emerged in the top 8 of the crypto adoption index. Nigeria leads the growth, recording weekly peer-to-peer volumes of between $5m to $10m. Kenya and South Africa tie at second place with an average $1m to $2m per week. Crypto payments have become a common feature in many parts of the continent, allowing businesse...

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