News updates January 12, 2022

1. Morocco Now North Africa's Leading P2P Crypto Trading Nation

In the year 2021, Morocco, which previously announced measures restricting crypto trading, became North Africa’s leading crypto-trading nation after its peer-to-peer (P2P) trade volumes surged to $6 million.

2. Iran to Permit Use of Cryptocurrencies in International Settlements, Reports Reveal

Authorities in Iran are preparing to allow the employment of cryptocurrencies for international settlements. According to local media, central bank and government officials have given the green light to adopt a mechanism using digital coins in the field of foreign trade.

Businesses in Iran to Be Able to Pay Foreign Partners With Crypto

Iranian companies will be allowed to use cryptocurrencies in settlements with partners in other countries, local media reported. An agreement to that end has been reached by the Central Bank of Iran (CBI) and the Ministry of Industries, Mining and Trade. Quoted by the Financial Tribune, the head of the Trade Promotion Organization of Iran, Alireza Peyman Pak, announced:

We are finalizing a mechanism for operations of the system. This should provide new opportunities for importers and exporters to use cryptos in their international deals

3. Crypto Tops Investor Threats for US Securities Regulators

U.S. state securities regulators have revealed that cryptocurrency investments are their top investor threat this year. “Before you jump into the crypto craze, be mindful that cryptocurrencies and related financial products may be nothing more than public facing fronts for Ponzi schemes and other frauds,” one regulator warned

Alabama Securities Commission Director Joseph P. Borg commented

By far, NASAA’s securities regulators revealed that investments related to cryptocurrencies and digital assets is our top investor threat.

4. Down From the Peaks: A Look at How Far Crypto Assets Have Slid From Their All-Time Highs

Digital currencies had a phenomenal year, and a great deal of the crypto assets in existence reached all-time high (ATH) prices against the world’s fiat currencies. However, the same digital currencies that tapped ATHs last year are currently down a great deal in value, as numerous cryptocurrencies have lost 30% or more since 2021’s price highs..

Crypto Values Are Lower Than Last Year’s Price Highs

2021 was a good year for crypto assets as numerous blockchain networks swelled in fiat value as billions upon billions were added to the alternative digital economy. Bitcoin (BTC) broke its previous ATH recorded in December 2017 at the end of 2020, when it surpassed the $20K per unit zone.

BTC’s price continued to rise higher into 2021 and eventually, it tapped a high of $64K per unit. Furthermore, on November 10, 2021, the price of bitcoin jumped to the $69K zone but today the price is 39% lower.

5. Report: Fintech Firms Received 62% of the $4.9 Billion Raised by African Tech Companies in 2021

Fintechs account for nearly two-thirds of the $4.9 billion that was raised by African technology firms during the past year. Fintech groups also dominate in terms of funding that exceeds $50 million, with a 40% share of the total number of tech firms.

The Covid-19 Factor

Out of the $4.9 billion in funding that was raised by African technology companies in 2021, almost two-thirds of this went to fintech companies, data from a new report has shown. In terms of deals wherein the capital raised exceeded $40 million, fintechs accounted for 40% of such deals.

6. Billionaire Jeff Gundlach Expects Recession This Year, Advises Against Buying Bitcoin


Doubleline Capital CEO Jeffrey Gundlach, also known as the “Bond King,” has warned about “a recession in the later part of this year.” He also advised against buying bitcoin at the current level. “Maybe you should buy it at $25,000,” he said.

Billionaire ‘Bond King’ Jeff Gundlach on Recession, Bitcoin, and the Fed Raising Interest Rates

Billionaire fund manager Jeff Gundlach warned about a recession happening in the later part of this year in an interview with Yahoo Finance, published Saturday. He also commented on whether investors should buy bitcoin