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Cryptocurrency Regulations Impact Operations in Nigeria

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Cryptocurrency Regulations Impact Operations in Nigeria

OKX, a cryptocurrency exchange, has decided to discontinue its operations in Nigeria due to increasingly strict local regulations impacting digital asset services. The announcement reflects the challenges faced by crypto companies in Nigeria amidst a crackdown on the sector.

In an email sent on July 17, OKX informed its users about the cessation of services in Nigeria, attributing the decision to recent regulatory changes. The exchange stated, “We are discontinuing OKX services in Nigeria after recent changes in local laws and regulations. This is based on our ongoing assessment of policies in each market we serve.”

According to OKX, users have until August 16 to close their P2P, margin, futures, and options positions, withdraw assets from Grow products, and transfer funds to their preferred wallets.

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This move follows similar actions by other cryptocurrency exchanges in Nigeria. Binance, for instance, faced a ban in April over allegations of money laundering and tax evasion. The Nigerian government has also prohibited operations of other major exchanges like Coinbase, citing measures to safeguard the local currency, the naira.

In related news, KuCoin has announced the suspension of its naira card and peer-to-peer naira services following guidance from the Securities and Exchange Commission. The exchange assured customers that they would be notified once these services resume, although no specific timeline was provided.

Despite these regulatory challenges, the cryptocurrency industry continues to evolve globally, adapting to regulatory landscapes while exploring opportunities for innovation and growth.

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Trump Urges Allies to Deploy Warships to Protect Strait of Hormuz After Iranian Attacks

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Trump Urges Allies to Deploy Warships to Protect Strait of Hormuz After Iranian Attacks

US President Donald Trump has called on allied nations to send naval forces to help secure the vital Strait of Hormuz following a series of attacks on commercial shipping linked to tensions with Iran.

Trump suggested that countries including the United Kingdom, Japan, China and South Korea could contribute warships to escort tankers through the narrow waterway.

However, defence analysts say the proposal may be premature, particularly as there is little indication that the conflict in the region is close to ending.

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Even the United States Navy is not currently escorting tankers through the shipping corridor, which links the Persian Gulf with the Gulf of Oman and serves as one of the world’s most important routes for oil exports.

The strait has become increasingly dangerous for commercial vessels, with several tankers already reported to have been struck while attempting to pass through the area.

Meanwhile, Emmanuel Macron, president of France, said his country would be willing to deploy naval forces to the region but only for what he described as a “purely escort mission.”

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Macron added that such a deployment would likely occur only after the most intense phase of the conflict had subsided.

Trump’s appeal for allied support comes despite comments he made last week suggesting the United States did not require additional military help from Britain.

At the time, Trump said the US did not need the UK to deploy an aircraft carrier to the region “after we’ve already won.”

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The Royal Navy operates two aircraft carriers, including HMS Prince of Wales. The vessel has recently been placed on high readiness but is currently scheduled to sail to the North Atlantic rather than the Middle East.

At present, the Royal Navy has no warships directly stationed in the region. However, the destroyer HMS Dragon is on its way to provide additional air defence support for Cyprus as tensions continue to rise across the wider Middle East.

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India’s Supreme Court Rejects Menstrual Leave Petition

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India’s Supreme Court Rejects Menstrual Leave Petition

India’s highest court has rejected a petition seeking mandatory menstrual leave for working women and female students, saying such a policy could unintentionally reduce women’s employment opportunities.

A two-judge bench led by Chief Justice Surya Kant at the Supreme Court of India said introducing compulsory menstrual leave could discourage employers from hiring women.

The judges warned that if the court mandated such a rule, “no-one will hire women,” adding that it might also lead young women to believe they were “not at par” with their male colleagues and could ultimately be harmful to their professional growth.

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The court made the remarks while hearing a petition filed by lawyer Shailendra Mani Tripathi, who had called for a nationwide menstrual leave policy.

According to legal website LiveLaw, Tripathi had argued that working women should receive two to three days of leave each month to help manage menstrual pain and related health issues.

However, the judges said such a mandate could reinforce gender stereotypes and make employers in the private sector hesitant to recruit women.

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They suggested that if such a policy were to be introduced, it should be developed by the government after consultation with stakeholders rather than imposed by the court.

The decision has once again reignited debate across India, where the topic of menstrual leave has long divided opinion.

Some supporters agree with the court’s view, arguing that additional leave specifically for women could create workplace inequality or discourage companies from hiring female employees.

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Others say time off during painful periods would improve women’s health and dignity at work.

In many parts of India, menstruation still carries social stigma, with some women discouraged from entering temples or participating in certain activities during their periods.

Supporters of menstrual leave policies point out that several countries have already adopted similar measures, including Spain, Japan, South Korea and Indonesia.

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Some Indian states have also introduced limited policies. Bihar and Odisha allow two days of menstrual leave per month for government employees, while Kerala offers similar provisions for university and industrial training institute staff.

Last year, the southern state of Karnataka approved a law granting one day of menstrual leave each month for women employees.

In recent years, several private companies across India have also adopted menstrual leave policies for their female staff, reflecting a gradual shift in workplace practices.

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Six US Aircrew Killed After Military Refuelling Plane Crashes in Iraq

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Six US Aircrew Killed After Military Refuelling Plane Crashes in Iraq

All six crew members aboard a US military refuelling aircraft have been confirmed dead after the plane crashed in western Iraq, according to the United States Central Command (Centcom).

The US military initially reported that four of the crew had been found dead, but later confirmed that all six personnel aboard the aircraft had died. Officials said there was no evidence that either hostile or friendly fire caused the crash involving the Boeing KC-135 Stratotanker on Thursday.

The tanker aircraft had been taking part in ongoing US operations linked to the conflict with Iran. It was one of two aircraft involved in the mission, while the second plane landed safely.

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Centcom said the crash occurred at about 14:00 ET (19:00 GMT) and that an investigation into the circumstances surrounding the incident has been launched.

Following the crash, a search and rescue operation was carried out to locate the remaining crew members who were initially unaccounted for.

The US military said the identities of the deceased personnel would be withheld for 24 hours to allow time for their families to be notified.

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During a news conference on Friday, Dan Caine, chairman of the Joint Chiefs of Staff, said the aircraft had gone down while the crew were on a combat mission.

US Defence Secretary Pete Hegseth paid tribute to the crew, describing them as “American heroes” and saying their sacrifice would strengthen the resolve of the mission.

The KC-135 typically operates with a crew that includes a pilot, co-pilot and a boom operator responsible for controlling the aircraft’s refuelling arm used to supply fuel to other planes mid-flight.

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Centcom said the crash occurred in friendly airspace. However, the region of western Iraq where the aircraft went down is known to host pro-Iranian militia groups. Iran’s military later claimed on state television that an allied group had targeted the aircraft with a missile.

The crash increases the official US military death toll in the ongoing war involving the United States, Israel and Iran, which began two weeks ago, to 13.

The US military has now lost at least four aircraft during the conflict.

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Earlier this month, three McDonnell Douglas F-15 Eagle fighter jets were shot down in what officials described as an apparent friendly-fire incident over Kuwait. All six crew members aboard those aircraft were able to eject safely.

The KC-135 Stratotanker, manufactured by Boeing in the 1950s and early 1960s, has long been a cornerstone of the US military’s aerial refuelling fleet, enabling combat aircraft to conduct extended missions without needing to land.

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