Kenya Passes VASP Bill, Uganda CBDC Pilot, Bitcoin Lightning Network Adoption in South Africa
After months of debate, Kenya’s parliament has passed the country’s first comprehensive crypto legislation. VASP will be key in driving adoption and creating a regulatory framework for crypto businesses in the country.
In Uganda, an initiative to launch the country’s first Central Bank Digital Currency (CBDC) is going into effect. CBDC continues to lose momentum as stablecoins, like the USDC and USDT, take over
Meanwhile, approximately 650,000 crypto merchants in South Africa can now accept Bitcoin payments following the integration of the Lightning Network (LN). The LN scales the Bitcoin mainnet, enabling low-fee transactions. Presently, the Bitcoin Lightning Network has a capacity of over $471M worth of BTC.
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