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BREAKING: South Africa’s Crypto Payments Soar to 2 Million Rand Monthly—Kenya Ditches 3% Tax!

South Africa Takes the Crypto Crown! 🚀

Hold onto your wallets, folks! South Africa is absolutely crushing it in the cryptocurrency game, with a staggering 2 million Rand in monthly payments processed through Luno Pay! That’s right—South Africa is not just talking the talk; they are walking the walk! This is HUGE for a nation where only one retail crypto payment service is in the mix.

Crhristo de Wit, the man in charge at Luno, threw down the gauntlet, stating that everyday purchases in crypto are on the RISE! Forget just holding onto those coins—South Africans are spending them like never before!

Kenya Goes Big: 3% Crypto Tax Obliterated! 💥

In an extraordinary turn of events, Kenya’s Parliament has thrown the 3% crypto tax into the trash bin! After relentless lobbying from the financial bigwigs at PricewaterhouseCoopers (PwC), the legislators have made a bold move to eliminate this tax burden.

Kimani Kuria, the fearless chairperson of the Finance Committee, confirmed that industry champions fought hard for this win. But let’s not forget—the President still has to give it the green light!

Yellow Card Sets Sights on Dominating Francophone Africa! 💰

Hold onto your hats, people! Yellow Card, the fintech powerhouse, is on a mission to expand the use of stablecoins across Francophone Africa! With a measly 20% adoption rate for crypto payments in West and Central Africa versus a robust 50% in the rest of the continent, they smell an opportunity.

Backed by a hefty investment from Blockchain Capital, Yellow Card is set to transform the crypto landscape in these regions, presenting a serious challenge to the traditional CFA Franc!

Key Takeaways:

• South Africa: Luno Pay is processing over 2 million Rand in monthly crypto transactions!
• Kenya: Parliament is on the verge of eliminating a 3% crypto tax—a monumental victory!
• Yellow Card: Targeting massive growth in stablecoin usage across Francophone territories!

Stay tuned, because Africa’s crypto scene is heating up and we’re just getting started!