22 Sep '15, 8pm

With bitcoin use on the rise, African countries eye regulations

The increasing use of bitcoins in Africa has prompted a growing chorus of government officials, legal experts and e-commerce entrepreneurs to call for the virtual currency to be regulated. In Africa’s largest economy, Nigeria, outlets like leather goods site Minku are now accepting bitcoins. South African bitcoin exchange BitX , which also operates in Nigeria, recently partnered with mobile payment and smartcard company Zazoo to enable bitcoin use via the virtual prepaid MasterCard app, VCpay. "Bitcoins are becoming increasingly popular in Nigeria," said Victor Munis, a partner at international law and arbitration firm TRPLAW, via email. "A good number of Nigerians are using bitcoins for their day-to-day transactions. Private companies sell bitcoins to interested persons. Retailers are beginning to accept bitcoins as payment for goods and services." The Central Bank of Nig...

Full article: http://www.pcworld.com/article/2984951/with-bitcoin-use-o...

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