Namibia’s new rules for crypto currencies, unlike what you hear about Namibia. Namibia, southwest of Africa, announced a ban on Krypto Carnins’ activities in 2017. The African country has renowned the rules of their records against the Crypto Carnation industry and allow the currency exchange and regulators of this technology.
Namibia’s new reaction to currencies has turned the country to the last country that accepts digital currencies.
According to reports, the government approves the regulatory for currency and virtual service providers. The main purpose of the adoption of these rules ensures consumer support, prevents the abuse of the market and financial support of terrorism in relation to Cryptot technology.
According to these laws, cryptocurrency and virtual service providers must obtain a license to operate. Within the framework of the laws, any disobedience of these laws will result in imprisonment from 10 million dollars to 10 years.
The reaction of Namibia shows the growth of the cryptocurrency industry in the African continent, while various African countries such as China, Mauritius, and South Africa have taken measures related to cryptocurrencies.
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