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Nigeria’s SEC issues first license to local crypto exchange

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Quidax, a leading cryptocurrency exchange based in Nigeria, has made headlines by becoming the first exchange in the country to secure a license from the Nigerian Securities and Exchange Commission (SEC). This landmark achievement underscores the platform’s dedication to regulatory compliance and positions it at the forefront of Nigeria’s growing digital asset market.

The Nigerian SEC’s endorsement marks a significant step for Quidax, highlighting its commitment to operating within a regulated framework and providing users with a secure and trustworthy trading environment. The license is a testament to the platform’s adherence to the SEC’s stringent regulatory standards, which aim to protect investors and ensure the integrity of the financial system.

This regulatory approval comes as Nigeria continues to develop its approach to cryptocurrency and blockchain technology. The SEC’s decision to license Quidax is a clear signal of the government’s intention to support and integrate digital asset innovations within its financial sector.

Quidax’s SEC license not only enhances its credibility but also opens the door for increased institutional interest and investment in Nigeria’s crypto market. The platform is expected to leverage this milestone to further expand its services, improve its offerings, and drive the adoption of cryptocurrencies in the region.

As Quidax sets a new precedent for the Nigerian cryptocurrency industry, the move is anticipated to encourage other exchanges and crypto-related businesses to pursue similar regulatory approvals. This development marks a pivotal moment in Nigeria’s financial landscape, as the country continues to embrace and regulate the digital economy.

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Binance launches in Syria after Trump lifts sanctions

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Binance has signaled interest in expanding its services to Syria following a recent move by former U.S. President Donald Trump to lift certain economic sanctions. The easing of restrictions has opened the door for global businesses, including cryptocurrency platforms, to re-evaluate their presence in the region.

A Binance spokesperson confirmed that the company is exploring opportunities in Syria and may extend support to local users. The development marks a potential shift in crypto accessibility for a country that has long faced economic isolation due to international sanctions.

Although no formal launch has been announced, the move suggests that Binance is preparing to tap into an underserved market. The company emphasized that it will continue to monitor regulatory guidelines while assessing how best to engage Syrian users within legal frameworks.

The renewed interest in Syria reflects broader efforts by crypto firms to expand globally amid shifting geopolitical and regulatory dynamics. If Binance proceeds, it could become one of the first major crypto platforms to reenter the Syrian market in years.

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GameStop plunges 12% after proposing new $1.75B debt offering

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GameStop’s stock dropped 11% after the company revealed plans to offer $2.14 billion in convertible notes, sparking investor concerns about potential dilution. The market reacted sharply to the move, which could lead to an increased share count if noteholders opt to convert their holdings into equity.

The company stated that the proceeds will be used for general corporate purposes, which may include acquisitions and investments. Convertible notes provide flexibility for companies, but often trigger negative investor sentiment due to the future possibility of share dilution.

The timing of the announcement came just as GameStop was enjoying renewed attention from retail investors, particularly following the reappearance of “Roaring Kitty,” a central figure in the 2021 meme stock frenzy. That momentum was quickly undercut by fears surrounding the fundraising effort.

GameStop’s latest financial strategy highlights its continued attempts to adapt and remain relevant in a changing retail landscape. However, the negative market reaction reflects ongoing uncertainty over the company’s ability to convert hype into sustained performance.

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Peaq and UAE bet on tokenized machines to power future economy

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The United Arab Emirates has introduced a new regulatory sandbox dedicated to advancing the machine economy, in collaboration with blockchain network peaq and Web3 data platform Pulsar. The initiative is backed by the country’s Artificial Intelligence, Digital Economy and Remote Work Applications Office and is aimed at supporting decentralized physical infrastructure networks (DePINs).

The sandbox offers a controlled environment where projects involving autonomous vehicles, delivery drones, and smart city applications can be tested and scaled. Developers will be able to deploy real-world use cases involving connected devices while benefiting from regulatory guidance and technical support.

Participants in the program will receive resources such as funding opportunities, mentorship, and access to strategic partners, enabling them to refine and expand their technologies. The initiative reflects the UAE’s continued efforts to lead in Web3 innovation, artificial intelligence, and future-driven economic models.

By fostering projects that combine AI, blockchain, and IoT, the UAE seeks to attract global startups to build the foundations of a decentralized machine economy. The sandbox is expected to drive real-world adoption of DePIN technologies across transport, infrastructure, and smart services sectors.

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